Wilkes-Barre Finance Authority, Pennsylvania Wilkes University; Private Coll/Univ - General Obligation

S&P Global Ratings assigned its 'BBB' long-term rating to the City of Wilkes-Barre Finance Authority, Pa.'s $10.0 million series 2019 taxable university revenue bonds, issued for Wilkes University. In addition, S&P Global Ratings affirmed its 'BBB' long-term rating on the Northeastern Pennsylvania Hospital&Education Authority's series 2007, 2012A, and 2016A, 2016B revenue bonds, issued for Wilkes University. The outlook is stable. We assessed the university's enterprise profile as adequate, characterized by declining applications and enrollment though good programmatic diversity and expectations of enrollment stabilization. We assessed the university's financial profile as adequate, with historical full-accrual operating surpluses, conservative budgeting practices and a manageable debt burden. However, operating results were negative in the last fiscal year, while available resources remain

...S&P Global Ratings assigned its '###' long-term rating to the City of Wilkes-Barre Finance Authority, Pa.'s $10.0 million series 2019 taxable university revenue bonds, issued for Wilkes University. In addition, S&P Global Ratings affirmed its '###' long-term rating on the Northeastern Pennsylvania Hospital & Education Authority's series 2007, 2012A, and 2016A, 2016B revenue bonds, issued for Wilkes University. The outlook is stable. We assessed the university's enterprise profile as adequate, characterized by declining applications and enrollment though good programmatic diversity and expectations of enrollment stabilization. We assessed the university's financial profile as adequate, with historical full-accrual operating surpluses, conservative budgeting practices and a manageable debt burden. However, operating results were negative in the last fiscal year, while available resources remain thin and are below-average relative to rating category medians. When we combine the enterprise...

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