...June 30, 2023 SAN FRANCISCO (S&P Global Ratings) June 30, 2023--S&P Global Ratings assigned its '##' long-term rating to University of Southern California's (USC or the university) $500 million series 2023 taxable revenue bonds. S&P Global Ratings also affirmed its '##' long-term rating on USC's revenue bonds outstanding. The outlook is stable. "We assessed USC's enterprise risk profile as extremely strong, characterized by robust demand for both undergraduate and graduate programs, as well as healthy selectivity, matriculation, and retention rates," said S&P Global Ratings credit analyst Mary Ellen Wriedt. "We assessed USC's financial risk profile as strong, characterized by a moderate debt burden and good financial policies and practices, offset by fluctuating operating performance and weak financial resource metrics for the rating." We believe these combined credit factors lead to an anchor of '##-'. As our criteria indicate, the final rating can be within one notch of the anchor. In...
