Summary: Molloy College, New York Hempstead Local Development Corp.; Private Coll/Univ - General Obligation

S&P Global Ratings assigned its 'BBB' long-term rating to Hempstead Town Local Development Corp., N.Y.'s series 2017 revenue bonds issued for Molloy College. In addition, we affirmed our 'BBB' issuer credit rating (ICR) on Molloy and our 'BBB' long term rating on the corporation's series 2009 and 2014 revenue bonds, also issued for Molloy. The outlook is stable. Total long-term debt outstanding as of fiscal year-end (June 30) 2016, was $76.4 million including $0.22 million of capitalized leases. Our rating reflects our view of Molloy's strong enterprise profile, characterized by its solid market position and demand with a rising enrollment and application trend, and high retention rates but low matriculation rate, the latter indicative of a highly competitive market. The

...S&P Global Ratings assigned its '###' long-term rating to Hempstead Town Local Development Corp., N.Y.'s series 2017 revenue bonds issued for Molloy College. In addition, we affirmed our '###' issuer credit rating (ICR) on Molloy and our '###' long term rating on the corporation's series 2009 and 2014 revenue bonds, also issued for Molloy. The outlook is stable. Total long-term debt outstanding as of fiscal year-end (June 30) 2016, was $76.4 million including $0.22 million of capitalized leases. Our rating reflects our view of Molloy's strong enterprise profile, characterized by its solid market position and demand with a rising enrollment and application trend, and high retention rates but low matriculation rate, the latter indicative of a highly competitive market. The enterprise profile also reflects our view of Molloy's robust management and governance that routinely follow conservative budget and fiscal operating practices. In addition, the rating reflects our view of Molloy's adequate...

Summary