Summary: University of Pittsburgh; Note; Private Coll/Univ - General Obligation; Public Coll/Univ - Unlimited Student Fees

S&P Global Ratings assigned its 'AA+' rating to the University of Pittsburgh - Of the Commonwealth System of Higher Education's (Pitt) up to $400 million taxable series 2019A, $200 million PANTHERS floating rate notes (Pitt Asset Notes-Tax-Exempt Higher Education Registered Series 2019), and the remarketed series 2017C taxable conversion refunding bonds. At the same time, S&P Global Ratings affirmed its 'AA+' and 'AA+/A-1+' ratings on Pitt's existing debt. The outlook, where applicable, is stable. We assess Pitt's enterprise profile as extremely strong, reflecting the comprehensive research-based university's strong demand and enrollment measures as well as its solid senior management team. We assess the university's financial profile as very strong, reflecting good revenue diversity, strong and consistent financial operating performance, and

...S&P Global Ratings assigned its '##+' rating to the University of Pittsburgh - Of the Commonwealth System of Higher Education's (Pitt) up to $400 million taxable series 2019A, $200 million PANTHERS floating rate notes (Pitt Asset Notes-Tax-Exempt Higher Education Registered Series 2019), and the remarketed series 2017C taxable conversion refunding bonds. At the same time, S&P Global Ratings affirmed its '##+' and '##+/A-1+' ratings on Pitt's existing debt. The outlook, where applicable, is stable. We assess Pitt's enterprise profile as extremely strong, reflecting the comprehensive research-based university's strong demand and enrollment measures as well as its solid senior management team. We assess the university's financial profile as very strong, reflecting good revenue diversity, strong and consistent financial operating performance, and historically strong available resource ratios for the rating category, which have weakened to only adequate with this material new debt issuance....

Summary