Summary: Wilkes University, Pennsylvania Wilkes-Barre Finance Authority; Private Coll/Univ - General Obligation

S&P Global Ratings assigned its 'BBB-' long-term rating to the City of Wilkes-Barre Finance Authority, Pa.'s approximately $15.8 million series 2021 revenue refunding bonds. At the same time, S&P Global Ratings affirmed the Northeastern Pennsylvania Hospital&Education Authority, Pa.'s series 2012A, 2016A, and 2016B revenue bonds and the City of Wilkes-Barre Finance Authority, Pa.'s series 2019 taxable revenue bonds, issued for Wilkes University (Wilkes). The outlook is stable. Post-issuance, outstanding debt will total approximately $71.5 million. Proceeds from the series 2021 bonds will fully refund the outstanding series 2012A bonds. The series 2021 bonds are on parity with all outstanding debt and will be secured by a general obligation of the university. Total debt as of fiscal 2021 year-end

...S&P Global Ratings assigned its '###-' long-term rating to the City of Wilkes-Barre Finance Authority, Pa.'s approximately $15.8 million series 2021 revenue refunding bonds. At the same time, S&P Global Ratings affirmed the Northeastern Pennsylvania Hospital & Education Authority, Pa.'s series 2012A, 2016A, and 2016B revenue bonds and the City of Wilkes-Barre Finance Authority, Pa.'s series 2019 taxable revenue bonds, issued for Wilkes University (Wilkes). The outlook is stable. Post-issuance, outstanding debt will total approximately $71.5 million. Proceeds from the series 2021 bonds will fully refund the outstanding series 2012A bonds. The series 2021 bonds are on parity with all outstanding debt and will be secured by a general obligation of the university. Total debt as of fiscal 2021 year-end is $72.3 million and includes the series 2012A, 2016A, 2016B and 2019 bonds and $3.2 million in capital leases. Excluded from total outstanding debt is approximately $4.7 million in operating...

Summary