Higher education bonds

The University of California, Merced, is closing in on formal execution of a $1.1 billion public-private partnership to nearly double the physical capacity of the campus by 2020.

The Dormitory Authority of the State of New York recently completed what it called its largest offering for a private client in 72 years with an $829 million bond sale for New York University.

Cash-strapped colleges and universities are increasingly likely to opt for P3 financing of campus infrastructure.

The Federal Trade Commission plans to appeal a federal court judge’s refusal to block the merger of Illinois-based Advocate Health Care and NorthShore University Health System.

Minnesota State Colleges and Universities took a one-notch downgrade from Moody’s Investors Service to Aa3 over the weakened state of its revenue fund, which backs $333 million of debt.

The University of Michigan will sell $300 million of high grade commercial paper next week to fund ongoing capital projects and refund debt.

Seven of Illinois’ public universities face a review for downgrade from Moody’s Investors Service.

State Treasurer Denise Nappier announced a reduction in the Connecticut Higher Education Trust management fee, now that the direct-sold plan has exceeded $2.5 billion in assets.

A Dowling College alumni group has launched a campaign to save the 48-year old Long Island school after it announced plans to close last week.

Debt-ridden Dowling College on Long Island is shutting its doors after 48 years, the school’s president announced late Tuesday.

The University of Texas System will issue $215 million of triple-A-rated debt that includes some of the $922 million in tuition revenue bonds authorized by the 2015 Texas Legislature.

Gov. John Bel Edwards, a Democrat, blasted a budget proposal by House Republicans to address a $600 million deficit by funding a college scholarship program at the expense of health care programs.

Bipartisan groups of House and Senate lawmakers are urging the Treasury Department and Internal Revenue Service to ease barriers that prevent nonprofit lenders from using tax-exempt bonds to refinance student loans.

A one-day strike by the faculty of the San Francisco Community College District is a bad sign because it shows a strong resistance to the district’s efforts to balance its books, Moody’s Investors Service said Thursday.

Illinois’ recent approval of some funding for higher education and student aid does little to calm concerns about the long-term impact of the funding drought on state university and community college balance sheets and reputations.

Columbia University recently issued $50 million in green bonds through the Dormitory Authority of the State of New York (DASNY) that will fund construction of a new science center for the Ivy League school’s Manhattanville campus, Gov. Andrew Cuomo announced Friday.

Illinois’ cash-starved higher education institutions will soon get some relief after state lawmakers passed a $600 million funding bill to get them through the summer despite the lack of a state budget.

With Illinois’ public higher education schools facing downgrades and accreditation risks, Gov. Bruce Rauner and the legislature’s Democratic majority remain at loggerheads over how to free up their funding amid the ongoing budget impasse.

Kentucky Attorney General Andy Beshear, a Democrat, filed suit Monday contending that budget cuts at nine public colleges and universities ordered by Republican Gov. Matt Bevin were illegal.

Illinois community colleges face downward rating pressure from delays in state aid payments and likely future state aid cuts.