Higher education bonds

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.

The board of Kent State University approved a plan to issue $170 million of bonds to finance a large capital improvement plan. The debt will be general-receipts bonds with a 30-year maturity.

Standard & Poor’s last week revised the outlook on Governors State University’s A-minus to stable from negative, due in part to the Illinois school’s demonstrated ability to manage cash flow and operations and make timely debt service payments, despite chronic delays in state aid.

DALLAS — The Austin Community College District plans to price $44.4 million of lease-revenue bonds to build its first campus in suburban Hays County after a Texas Supreme Court victory cleared a path to the market.

The Florida Legislature's fiscal 2013 budget taps reserves of the state's 11 public universities to help balance the state budget — "a clear credit negative" for the schools, according to Moody's Investors Service.

The Internal Revenue Service unveiled a voluntary closing agreement program for certain tax-exempt student loan bond issuers, giving them until July 31 to apply for relief under the settlement program.

Moody’s Investors Service has affirmed the University of Iowa’s Aa1 rating and stable outlook for its utility system revenue bonds ahead of a $25 million sale slated for this week.

Voters in Pulaski County, Ark., will be asked July 10 to establish a taxing district to provide financing for Pulaski Technical College through a property tax levy.

Moody's Investors Service upgraded a long-term letter-of-credit backed rating to Aa2 from A1 and confirmed the short-term VMIG 1 rating of the Vermont Student Assistance Corp.'s education loan senior revenue bonds, Series 2008C-1 and C-2.

Moody's Investors Service affirmed the A1 rating on Jackson Laboratory's fixed-rate series 2007 revenue bonds, issued through the Association of Bay Area Governments Finance Authority for Nonprofit Corporations, with a stable outlook.

Faculty at Ohio State University last week voted against the administration’s plan to privatize its parking system.