Higher education bonds

A Massachusetts bill would authorize special obligation bonds to finance upgrades to the state's public university, school, and college campuses.

Campbellsville University "shares many of the characteristics of schools that are struggling" in higher education, said Lisa Washburn of Municipal Market Analytics.

The move comes after Janney shuttered its public finance business in December.

Downgrades of three private universities in the Northeast reflect enrollment pressures facing the higher education sector, particularly in that region.

The deal will come to market despite the troubles of some other student housing bonds in Florida.

Maryland Governor Wes Moore unveiled his $70.8 billion budget proposal that is designed to close a $1.5 billion gap via cuts, fund transfers and swaps of bonds for cash.

Two student housing developments in Orlando and Tampa, Florida, financed by speculative-grade bonds in 2024, have shown signs of strain.

The Ohio State University went to market Tuesday with a $560 million deal to refund taxable Build America Bonds into tax-exempt debt.

Pasadena and the Rose Bowl Operating Co. are suing UCLA, saying plans to relocate football games to SoFi stadium could jeopardize $130 million in revenue bonds.

The Regents of the University of California will sell $2 billion of bonds next week after yanking a $1.5 billion summer deal amid Trump administration threats.

Sterling College is one of 10 federally recognized work colleges, a designation that means students are required to work as part of their courses.

Moody's cited prospects for reduced operating deficits, generally stable enrollment and strong philanthropic support.

Moody's placed a negative outlook on the higher education earlier this year. 2026 looks even more uncertain, according to a new report from the rating agency.

Bank of America provided a letter of credit for Harvard after the Trump administration put it on a list usually reserved for vocational and beauty schools. 

A state audit of the Houston-based HBCU that identified financial issues led the governor to direct state agencies to launch an investigation.

The rating agency expects the school to post an operating deficit this year.

The one-notch upgrade to AA-minus for Oklahoma's flagship university was assigned to an upcoming approximately $160.7 million bond refunding.

Moody's cited the school's weakening liquidity levels in its downgrade.

Stanford University increased a commercial paper program by $500 million to $1 billion, marking the latest institution in U.S. higher education to do.

The college's most recent annual comprehensive financial report is for the fiscal year ending June 30, 2023, and S&P is concerned by the lack of timely reporting.