Summary: Northampton County General Purpose Authority, Pennsylvania Moravian College; Private Coll/Univ - General Obligation

Standard&Poor's Ratings Services has assigned its 'BBB+' rating on Northampton County General Purpose Authority, Pa.'s $31.3 million series 2016 college general revenue bonds, issued for Moravian College. At the same time, Standard&Poor's affirmed its 'BBB+' rating on the authority's series 2012 and 2013 bonds issued for the college and its 'BBB+' issuer credit rating on Moravian. The outlook is stable. We assessed Moravian's enterprise profile as strong, with recent improvement in enrollment. We assessed Moravian's financial profile as adequate, with improving operating margins after incurring operating deficits and available resources in line with 'BBB' peers. Combined, we believe these credit factors lead to an indicative standalone credit profile of 'bbb+'. More specifically, the 'BBB+' rating reflects

...Standard & Poor's Ratings Services has assigned its '###+' rating on Northampton County General Purpose Authority, Pa.'s $31.3 million series 2016 college general revenue bonds, issued for Moravian College. At the same time, Standard & Poor's affirmed its '###+' rating on the authority's series 2012 and 2013 bonds issued for the college and its '###+' issuer credit rating on Moravian. The outlook is stable. We assessed Moravian's enterprise profile as strong, with recent improvement in enrollment. We assessed Moravian's financial profile as adequate, with improving operating margins after incurring operating deficits and available resources in line with '###' peers. Combined, we believe these credit factors lead to an indicative standalone credit profile of '###+'. More specifically, the '###+' rating reflects our assessment of Moravian's:...

Summary