University of Pittsburgh Series 2019A Bonds And PANTHERS Notes Rated 'AA+' - S&P Global Ratings’ Credit Research

University of Pittsburgh Series 2019A Bonds And PANTHERS Notes Rated 'AA+'

University of Pittsburgh Series 2019A Bonds And PANTHERS Notes Rated 'AA+' - S&P Global Ratings’ Credit Research
University of Pittsburgh Series 2019A Bonds And PANTHERS Notes Rated 'AA+'
Published Nov 14, 2019
3 pages (1513 words) — Published Nov 14, 2019
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

CHICAGO (S&P Global Ratings) Nov. 14, 2019--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. In our opinion, the long-term rating reflects Pitt's unsecured general obligation pledge, supported by the university's: Stable enrollment, solid student demand, and strong student quality, all of which are supported by a comprehensive array of graduate, professional, and general academic

  
Brief Excerpt:

...November 14, 2019 CHICAGO (S&P Global Ratings) Nov. 14, 2019--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. In our opinion, the long-term rating reflects Pitt's unsecured general obligation pledge, supported by the university's: - Stable enrollment, solid student demand, and strong student quality, all of which are supported by a comprehensive array of graduate, professional, and general academic programs; - Historically positive operating performance on a full-accrual basis, with consistently positive growth in net tuition revenue; - Solid...

  
Report Type:

Ratings Action

Issuer
University of Pittsburgh of the Commonwealth System of Higher Education
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "University of Pittsburgh Series 2019A Bonds And PANTHERS Notes Rated 'AA+'" Nov 14, 2019. Alacra Store. May 20, 2025. <http://www.alacrastore.com/s-and-p-credit-research/University-of-Pittsburgh-Series-2019A-Bonds-And-PANTHERS-Notes-Rated-AA-2339037>
  
APA:
S&P Global Ratings’ Credit Research. (). University of Pittsburgh Series 2019A Bonds And PANTHERS Notes Rated 'AA+' Nov 14, 2019. New York, NY: Alacra Store. Retrieved May 20, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/University-of-Pittsburgh-Series-2019A-Bonds-And-PANTHERS-Notes-Rated-AA-2339037>
  
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