Summary: Northeastern Pennsylvania Hospital&Education Authority Wilkes University; Private Coll/Univ - General Obligation

S&P Global Ratings assigned its 'BBB' long-term rating to the Northeastern Pennsylvania Hospital&Education Authority, Pa.'s series 2016B revenue refunding bonds, issued for Wilkes University. At the same time, we affirmed our 'BBB' rating on the university's series 2007, 2012, and 2016A revenue bonds. The outlook is stable. We assessed the university's enterprise profile as strong characterized by robust enrollment increases in fall 2015 and 2016, expectations for future enrollment increases, and good programmatic diversity. This is partly offset by our view of the university's limited demand profile, with weak selectivity, and graduation and matriculation rates for the rating. We assessed the university's financial profile as adequate, with historical full-accrual operating surpluses posted due to its conservative budgeting despite

...S&P Global Ratings assigned its '###' long-term rating to the Northeastern Pennsylvania Hospital & Education Authority, Pa.'s series 2016B revenue refunding bonds, issued for Wilkes University. At the same time, we affirmed our '###' rating on the university's series 2007, 2012, and 2016A revenue bonds. The outlook is stable. We assessed the university's enterprise profile as strong characterized by robust enrollment increases in fall 2015 and 2016, expectations for future enrollment increases, and good programmatic diversity. This is partly offset by our view of the university's limited demand profile, with weak selectivity, and graduation and matriculation rates for the rating. We assessed the university's financial profile as adequate, with historical full-accrual operating surpluses posted due to its conservative budgeting despite a high reliance on student revenues. However, available resources remain below-average relative to rating category medians and management remains uncertain...

Summary