Standard & Poor's Ratings Services said it revised its outlook to positive from stable and affirmed its A-plus long-term rating on the Shelby County Health, Education, & Housing Facility Board, Tenn.'s series 2011 revenue bonds issued on behalf of Rhodes College (RC).
At the same time, Standard & Poor's affirmed its AAA/A-1-plus rating and A-plus underlying rating (SPUR) on the college's series 2000 variable-rate demand obligations (VRDOs).
"The revised outlook on the A-plus long-term and underlying ratings reflect our view of the college's strong financial resources, conservative use of debt, healthy operating surpluses, and the stability of its enrollment and student demand profile," said Standard & Poor's credit analyst Ashley Ramchandani.
