Higher education bonds

DALLAS — Top Louisiana officials said Monday that higher education and public health would be devastated by fiscal 2013 spending cuts mandated by a budget passed late last week by the House.

CHICAGO — The Illinois Finance Authority last week advanced financings on behalf of Loyola University of Chicago and Lake Forest College to help fund upgrades to residential and other student facilities considered key to the schools' appeal.

Moody’s Investors Service Tuesday upgraded to B1 from B3 the rating on Southern California University of Health Science’s Series 1997 bonds and also revised the outlook to positive from negative on $7.5 million of outstanding bonds.

The University of Texas System Board of Regents last week said the system would contribute $25 million a year to operations of a medical school in Austin if locals provide $35 million a year.

Fitch Ratings has affirmed its AAA rating on $92.8 million of Series 2003 variable-rate demand bonds and $101 million of Series 2002 VRDBs issued by the New Hampshire Health and Education Facilities Authority.

The Dormitory Authority of the State of New York sold $86.3 million of New York University revenue bonds on Thursday.

Fitch Ratings downgraded California’s Santa Clarita Community College District to AA from AA-plus and revised the outlook to negative from stable.

BRADENTON, Fla. — After a successful and rare competitive deal last year, Appalachian State University in northwestern North Carolina this week plans to competitively sell $25.8 million of general revenue refunding bonds.

Trustees of Pulaski Technical College voted last week to delay a property tax election until the measure can be the only tax item on the ballot.

Louisiana State University supervisors will consider a request Friday for $100 million of revenue bonds to add seats at Tiger Stadium in Baton Rouge.

In a meeting on Wednesday, the board of the Dormitory Authority of the State of New York approved $320 million in financings for higher education and health care institutions.

New York's Metropolitan Transportation Authority on Wednesday approved a deal surrendering its vacant former downtown Brooklyn headquarters for use by New York University as an applied science center.

Fitch Ratings this week upgraded the Oregon Health and Science University to A-plus from A as the school prepares to come to market next week with $268 million of revenue bonds.

CHICAGO — Moody's Investors Service has affirmed the ratings on $2.4 billion of debt issued by eight Illinois public universities, taking the schools off watch list for a possible downgrade after a three-month review triggered by the state's downgrade and concerns over the schools' exposure to chronic delays in state aid.

The Illinois Finance Authority board advanced up to $875 million worth of borrowing for health care and higher education organizations, including Ascension Health Alliance's sale of up to $600 million of new-money and refunding debt and $150 million from Loyola University of Chicago.

The Colorado State University System is going to the bond market for the second time this year with an $87.7 million refunding that includes taxable and tax-exempt debt.

DALLAS — Members of the Dallas City Council were enthusiastic last week about a plan to keep a college football game in its long-time home with stadium improvements financed by $25.5 million of certificates of obligation.

Moody’s Investors Service has affirmed the Aa1, Aa1/VMIG1 and P-1 ratings on Cornell University’s outstanding bonds and commercial paper, and revised the outlook to stable from negative.

DALLAS — Arizona State University will use $230 million of revenue bond proceeds for a variety of projects at its Tempe and satellite campuses.

DALLAS — The Arizona Board of Regents on Tuesday priced $123 million of bonds for the University of Arizona in one of the largest deals of the year from the state.