Higher education bonds

The University of Michigan follows Michigan State this month in joining the club of universities offering 100-year bond maturities.

Moody's Investors Service said the upgrade reflected the university's robust, sustainable operating margins supported by consistent growth in tuition revenue.

Michigan State, supported by a better bond rating outlook, will join the small club of higher education institutions using a 100-year taxable bond structure.

Stability at the state government level and the prospects of more aid in fiscal 2023 eased balance sheet pressures on Illinois' public universities.

Despite competitive and demographic headwinds, Villanova's strong academic reputation as a selective private university will support student demand, Moody’s said.

Like peers with big endowments and strong student demand, the private university in Chicago has managed through the pandemic with its ratings intact.

Michigan's flagship public university's enjoys a healthy and diverse balance sheet but the scandal's taint poses other challenges.

Katherine Craven, chief administrative and financial officer at Babson College, discusses the school's business niche, its bond-rating upgrades amid negative outlooks for higher education overall, and the outlook for the sector in the face of the pandemic. Paul Burton hosts. (Recorded on Dec. 23, 2021 and is 25 minutes long.)

Despite its snowy reputation, the region sees itself as a climate refuge due to cooler temperatures, reliable infrastructure and Lake Erie freshwater.

Welch heads Squire Patton Boggs' California Public Finance practice.