University of Southern California Series 2020A and 2020B Taxable Bonds Rated 'AA'

SAN FRANCISCO (S&P Global Ratings) Jan. 23, 2020--S&P Global Ratings assigned its 'AA' long-term rating to the University of Southern California's (USC) $320 million series 2020A and $310 million series 2020B taxable bonds. In addition, we affirmed our 'AA' long-term rating and underlying rating (SPUR) on USC's debt outstanding. The outlook is stable. "We assessed USC's enterprise profile as extremely strong, characterized by robust demand for both undergraduate and graduate programs, as well as increasing selectivity and matriculation rates and a healthy retention rate," said S&P Global Ratings credit analyst Mary Ellen Wriedt. We assessed USC's financial profile as strong, characterized by a moderate debt burden and good financial policies and practices, offset by recent declines in operating performance and

...January 23, 2020 SAN FRANCISCO (S&P Global Ratings) Jan. 23, 2020--S&P Global Ratings assigned its '##' long-term rating to the University of Southern California's (USC) $320 million series 2020A and $310 million series 2020B taxable bonds. In addition, we affirmed our '##' long-term rating and underlying rating (SPUR) on USC's debt outstanding. The outlook is stable. "We assessed USC's enterprise profile as extremely strong, characterized by robust demand for both undergraduate and graduate programs, as well as increasing selectivity and matriculation rates and a healthy retention rate," said S&P Global Ratings credit analyst Mary Ellen Wriedt. We assessed USC's financial profile as strong, characterized by a moderate debt burden and good financial policies and practices, offset by recent declines in operating performance and modest available resource metrics for the rating which have been pressured by significant legal liabilities. Combined, we believe these credit factors lead to an...

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