...S&P Global Ratings' long-term rating on Virginia Small Business Finance Authority's series 2011 housing revenue bonds and Virginia College Building Authority's series 2007 revenue bonds, both issued for Roanoke College (Roanoke), is ###+. The outlook is stable. We assessed Roanoke's enterprise profile as strong characterized by stable enrollment and growing freshman class sizes, offset by, weak selectivity, and low matriculation rates for the rating. We assessed Roanoke's financial profile as adequate, with positive operating performance despite a high tuition discount rate, solid available resources that have grown the past two years, and manageable debt burden. Combined, we believe these credit factors lead to an indicative standalone credit profile of '###+', and a final rating of '###+'. The rating reflects our assessment of Roanoke's strengths: + Application growth the past three years, that is likely to continue in fall 2019; + Modest debt profile with a decreasing debt service schedule...
