Southwest

The Standard & Poor’s outlook on Lubbock Christian University’s BBB rating has shifted to negative amid falling enrollment and dependence on tuition.

The Texas House of Representatives has passed Rep. John Zerwas's House Bill 100 that allocates $3.1 billion of tuition revenue bonds for colleges and universities across the state. No TRBs have won legislative approval in nearly a decade.

Tax revenue from oil and gas production in Oklahoma has fallen to a 12-year low, according to the latest report from state Treasurer Ken Miller.

Texas sales tax revenues grew for the 60th straight month in March, but the 1.5% increase was the weakest in the past two years.

Declining state support and flat enrollment prompted Moody's Investors Service to cast a negative outlook on Kansas State University's upcoming sale of $61.7 million of revenue bonds rated Aa2.

With some maturities oversubscribed by a factor of five, the North Texas Tollway Authority recorded net present value savings of nearly $90 million or 10% on an $866.5 million refunding, according to chief financial officer Horatio Porter.

Texas voters would get the final say on a Rep. John Otto's resolution passed overwhelmingly in the state House of Representatives to reduce the state's $44 billion of debt using excess revenue from the rainy day fund.

Cheniere Energy's $12 billion liquefied natural gas export plant in Corpus Christi, Texas, appears the likeliest to obtain financing as others are cancelled, according to Moody's Investors Service.

Citing worsening financial performance amid continuing drought, Moody's Investors Service lowered Wichita Falls, Texas's water and sewer debt two notches to A3 and retained a negative outlook.

Moody's Investors Service placed Beaumont Independent School District's underlying Baa1 rating on review for a possible downgrade, affecting $158.5 million of outstanding debt.