Higher education bonds

Education issuance in the first half of 2024 rose 27% year-over-year, increasing to $64.516 billion across 1,646 issues from $50.796 billion in 1,559 transactions from 1H 2023.

The higher-ed sector, already facing internal pressures, could face scrutiny over its tax-exempt status during tax reform next year.

Xavier University in Ohio is the latest private Midwest college to face bad financial news -- downgrades from two bond rating agencies -- but it's not alone.

The University of Arizona, which was hit with negative rating outlooks earlier this year, scheduled a debt refunding led by Morgan Stanley for Wednesday.

The University of the Arts, a private college in Philadelphia that abruptly closed its doors in June, filed for Chapter 7 bankruptcy.

Full Moon Capital will focus on mid- and smaller-sized specialty credits that are looking to grow.

Mount Saint Mary College in New York saw its bond rating downgraded to BBB from BBB-plus by Fitch Ratings after persistent declines in student enrollment.

Ohio's Eastern Gateway Community College has entered into conservatorship and will dissolve and close after a litany of problems and financial red flags.

The rating agency estimated the cost of college and university capital needs at $750 billion to $950 billion over the next decade.

Detroit-based Wayne State University will return to market with $31.7 million of general revenue refunding bonds, with proceeds refunding outstanding bonds.