...NEW YORK (S&P Global Ratings) Nov. 4, 2016--S&P Global Ratings lowered its rating on Virginia Small Business Finance Authority's series 2011 housing revenue bonds and Virginia College Building Authority's series 2007 revenue bonds, both issued for Roanoke College (Roanoke), to '###+' from 'A-'. The outlook is stable. "We lowered the rating based in part on the Not-for-Profit Public and Private Colleges and Universities methodology, published on Jan. 6, 2016, and on our view of the college's weaker available resources following a recent issuance of additional debt to fund an ongoing capital project," said S&P Global Ratings analyst Charlene Butterfield. "In our opinion, Roanoke's available resources have not kept pace with the increase in debt." The stable outlook reflects our expectation that, over the two-year outlook period, Roanoke College will continue to generate modest full accrual surpluses, maintain overall stable enrollment and current demand trends, and maintain available resources...
