Summary: Virginia College Building Authority Regent University; Private Coll/Univ - General Obligation

S&P Global Ratings revised its outlook to stable from negative and affirmed its 'BB+' rating on the Virginia College Building Authority's revenue bonds, issued for Regent University. The outlook revision to stable reflects our opinion of the significant enrollment growth in fall 2020 and the healthy operating surpluses, along with zero endowment draws, based on fiscal 2019 audited and fiscal 2020 unaudited results. The financial results reflect significant improvements from the large operating deficits and extraordinary endowment spending in past years, and we believe the positive trend will likely continue despite the impacts of the ongoing pandemic. In our view, management has made great strides to expand enrollment, grow revenue, and contain costs, which eventually translated into improved operations and

...S&P Global Ratings revised its outlook to stable from negative and affirmed its '##+' rating on the Virginia College Building Authority's revenue bonds, issued for Regent University. The outlook revision to stable reflects our opinion of the significant enrollment growth in fall 2020 and the healthy operating surpluses, along with zero endowment draws, based on fiscal 2019 audited and fiscal 2020 unaudited results. The financial results reflect significant improvements from the large operating deficits and extraordinary endowment spending in past years, and we believe the positive trend will likely continue despite the impacts of the ongoing pandemic. In our view, management has made great strides to expand enrollment, grow revenue, and contain costs, which eventually translated into improved operations and an elimination of endowment spending in the last couple of years. Based on unaudited financial statements as of June 30, 2020, prepared by management, Regent University's outstanding...

Summary