Higher education bonds

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.

Illinois Gov. Pat Quinn on Tuesday announced state funding of $32 million for the construction of a new transportation-related education center at the City Colleges of Chicago’s Olive-Harvey campus.

The Dormitory Authority of the State of New York is scheduled to sell $205 million of new-money and refunding bonds for New York University this week, following a one-day retail order period. Bank of America Merrill Lynch is the lead underwriter.

Standard & Poor’s revised the outlook to stable from negative and affirmed the BB-plus long-term rating on the Massachusetts Development Finance Agency’s revenue bonds that were issued for Eastern Nazarene College of Quincy, Mass.

The Connecticut Health and Educational Facilities Authority on Tuesday plans to competitively sell $47.8 million of Connecticut State University System revenue refunding bonds, Series L.

The Alabama Public School and College Authority last week saved more than $26 million refinancing $90.9 million of outstanding capital improvement pool bonds and $90.6 million of economic development and training bonds.

Moody’s Investors Service affirmed Simmons College’s Baa1 rating, and revised its rating outlook for the Massachusetts institution to positive from stable. The move affects about $182 million in debt.

Standard & Poor’s has revised its outlook on Western Illinois University’s A rating to stable from negative as analysts’ concerns over Illinois state aid delays have eased.

Chicago Mayor Rahm Emanuel and City Colleges of Chicago officials announced a $479 million, five-year capital program last week that relies on $274 million of future borrowing.

DALLAS – After rapid growth in leverage over the past five years, the Colorado State University System will have $631 million of outstanding when it sells $125.8 million of enterprise revenue bonds this week, analysts said.

SAN FRANCISCO — The University of California this week will sell $500 million of 100-year bonds in an effort to attract pension fund and overseas investors.