Standard & Poor’s last week revised the outlook on Governors State University’s A-minus to stable from negative, due in part to the Illinois school’s demonstrated ability to manage cash flow and operations and make timely debt service payments, despite chronic delays in state aid.

The review came ahead of a new issue to finance an on-campus student housing complex that will include a community room, a classroom, a convenience store, lounges and study rooms.

“Further supporting the rating is our view of the university’s growing undergraduate enrollment and its history of positive financial operations on a full-accrual basis,” said analyst Jessica Lukas.

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