Higher education bonds

The Tennessee State School Bond Authority has closed on a $437.7 million bond deal that will save the state $27.8 million while financing projects at colleges and universities.

The MSRB has drafted a new rule G-45 that would require underwriters or other primary distributors of Section 529 college savings plans to provide detailed information about these plans to the board’s EMMA system on a quarterly basis. But the board would not disseminate the data fight now.

Indiana's Purdue University will sell $58 million of student-fee bonds Wednesday in the first of two August deals to raise money for capital needs.

After being postponed a week, the NYU Hospitals Center's $250 million taxable bond sale will come to the market sometime this week — possibly as early as Tuesday.

Standard & Poor's and Moody's Investors Service have mixed outlooks on the higher education sector.

Sen. Charles Grassley, R-Iowa., called on Congress to review all higher education tax incentives and expenditures, including tax-exempt bonds, as part of comprehensive tax reform.

The Dormitory Authority of the State of New York board approved $1.1 billion of financings for higher education and health care institutions, including a $940 million personal income tax revenue bond program.

The school's Aa1 rating is at risk after the NCAA imposed a $60 million fine for its role in a child sex-abuse scandal.

Ohio State University touted the results of last week's $114 million refunding, saying demand outstripped supply by nearly three times, and that the deal was the university's latest successful move to drum up new revenue for its academic programs.

The rating agency does not expect the NCAA's $60 million fine to immediately affect the long-term ratings on various revenue bonds issued by and for the school.

New York State Comptroller Thomas DiNapoli's office has begun an independent financial review of the financially troubled State University of New York Downstate Medical Center and its affiliates.

Moody's Investors Service has revised the outlook on Kean University's outstanding debt to negative and affirmed the A2 rating on Kean's revenue bonds.

The University of California will sell $900 million of revenue bonds next week for refinancing and to fund various projects across six campuses, including the renovation of the storied Pauley Pavilion basketball arena at UCLA.

Louisiana could avoid repeated revenue shortfalls and be able to adequately fund higher education if state spending were more rational, Treasurer John Kennedy said.

Moody's Investors Service Friday placed its A3 rating on bonds issued for Geogia's Fort Valley State University on review for possible downgrade.

Top-rated Washington University in St. Louis will sell about $200 million of taxable new-money and refunding bonds on Wednesday,

Fitch Ratings raised the Rush University Medical Center Obligated Group one notch to A in recognition of its consistently strong profitability and the completion of its new patient tower, eliminating construction risks on the credit.

Louisiana State Bond Commission will consider a request Thursday from the Tiger Athletic Foundation for $75 million of revenue bonds to finance an expansion project at Louisiana State University's football stadium in Baton Rouge.

Baylor College of Medicine, the largest private medical school in the Southwest, plans to issue $320 million of bonds next month to refinance fixed and variable rate debt and stabilize its financial structure, officials said.

West Virginia's Mountain State University lost its investment-grade bond rating after announcing that it may lose its accreditation.