S&P Gives A-Plus to MSU

Standard & Poor last week raised to A-plus from A its rating for Missouri State University’s auxiliary enterprise system revenue bonds due to an improved balance sheet.

The action affects debt sold in 2007 and an upcoming issue through the ­Missouri Health and Educational Facilities Authority that includes tax-exempt bonds, taxable Build America Bonds, and refunding bonds.

“The higher rating reflects our view of MSU’s operating performance, balance-sheet metrics, and enrollment trends, which have consistently outperformed other public institutions within the state,” wrote analyst Jessica Matsumori.

The university plans to refund debt sold in 2005. It will use the new-money proceeds to construct a student recreation and wellness center on its main Springfield campus and build a multipurpose recreation center at its West Plains campus that will double as an area storm shelter.

The school is one of 13 four-year public colleges and universities in Missouri. It is the second-largest university in the state, with 22,000 students on three ­campuses in the Springfield, Mountain Grove, and West Plains areas.

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