Higher education bonds

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.

The deal is expected to conclude in the summer of 2026, and at that time Elon University will operate Queens University of Charlotte.

Ketner is Baird's second hire in the higher education and nonprofit sectors in the last 30 days.

The rating agency cited increases in enrollment and improved net tuition revenues.

Metropolitan College plans to sell its Manhattan campus to The City University of New York, providing a reprieve for its bondholders. 

The University of Chicago went to market this week, as the Trump administration has targeted higher education and faculty criticize budget and program cuts.

RBC Capital Markets will be the underwriter for the bonds, which will have a maximum maturity of 40 years.

The 10-campus public university system apparently scrapped plans to price $1.5 billion in debt this week.

Electric power bond issuance was up 47.8% and educatron issuance was up 31.6% from the first half of 2024.

The trustees of the University of Pennsylvania entered into a $300 million loan this month as part of a broad strategy to ensure access to liquidity.

Veteran banker Tim Kelly will give Baird's higher education and non-profit sectors a national reach.