...S&P Global Ratings revised the outlook on its '##-' rating on University of North Carolina Board of Governors' revenue debt, issued for East Carolina University (ECU), to stable from negative. At the same time, S&P Global Ratings assigned its '##-' rating, with a stable outlook, to University of North Carolina Board of Governors' approximately $51.125 million series 2021 taxable revenue bonds, issued for ECU, and affirmed its '##-' rating on ECU's existing debt. The outlook revision to stable reflects S&P Global Ratings' opinion of ECU's enterprise profile, which has maintained enrollment levels despite COVID-19-related pressures and its financial profile, which has maintained positive operations. The university has the expectation of positive operations in fiscal 2021 due to additional federal funding and prudent expense management. State appropriations are expected to remain relatively stable. The university has no additional debt plans, which further lends credit stability. Officials...
