Summary: University Of North Carolina Board Of Governors East Carolina University; Public Coll/Univ - Unlimited Student Fees

Standard&Poor's Ratings Services assigned its 'AA-' rating to University of North Carolina Board of Governors' (student center project) series 2015A and 2015B general revenue refunding bonds, issued for East Carolina University (ECU). At the same time, Standard&Poor's affirmed its 'AA-' rating on general and pooled revenue debt issued by or for the board of governors and ECU. The outlook on all ratings is stable. The rating reflects our opinion of ECU's history of solid full-accrual operating surpluses, relatively stable enrollment, and adequate financial resources for the rating category. To navigate the pressured state funding environment, the university, in our view, continues to practice prudent financial and risk management. We consider the university's revenue diversity a credit

...Standard & Poor's Ratings Services assigned its '##-' rating to University of North Carolina Board of Governors' (student center project) series 2015A and 2015B general revenue refunding bonds, issued for East Carolina University (ECU). At the same time, Standard & Poor's affirmed its '##-' rating on general and pooled revenue debt issued by or for the board of governors and ECU. The outlook on all ratings is stable. The rating reflects our opinion of ECU's history of solid full-accrual operating surpluses, relatively stable enrollment, and adequate financial resources for the rating category. To navigate the pressured state funding environment, the university, in our view, continues to practice prudent financial and risk management. We consider the university's revenue diversity a credit strength, and we believe that even with the additional new debt from this project the MADS burden will remain modest at 2.53%. The rating also reflects our view of ECU's:...

Summary