University Of Portland, Oregon Oregon Facilities Authority; Private Coll/Univ - General Obligation

S&P Global Ratings affirmed its 'A' long-term rating on the Oregon Facilities Authority's series 2015A and 2015B revenue bonds, issued for the University of Portland (UP). The outlook is stable. The university had $81.7 million of debt as of June 30, 2021, including the fixed-rate series 2015A and 2015B revenue bonds and operating leases. All debt is secured by a general obligation of the university. The university reports that it does not have any additional debt plans during the outlook period. As a result of COVID-19, UP transitioned to an online format in March 2020 and remained fully online through the spring 2020 semester. For fall 2020, the university remained almost entirely online, with around 250 students living on campus

...S&P Global Ratings affirmed its 'A' long-term rating on the Oregon Facilities Authority's series 2015A and 2015B revenue bonds, issued for the University of Portland (UP). The outlook is stable. The university had $81.7 million of debt as of June 30, 2021, including the fixed-rate series 2015A and 2015B revenue bonds and operating leases. All debt is secured by a general obligation of the university. The university reports that it does not have any additional debt plans during the outlook period. As a result of COVID-19, UP transitioned to an online format in March 2020 and remained fully online through the spring 2020 semester. For fall 2020, the university remained almost entirely online, with around 250 students living on campus in single-occupancy rooms. With many students living and learning off campus, housing occupancy and, in turn, auxiliary revenue, fell sharply. Furthermore, the pandemic caused enrollment challenges that led to a 7.6% decline in fall 2020. To offset some of these...

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