Higher education bonds

Standard & Poor’s last week revised its outlook on the University of Rochester to positive from stable as revenue growth and limited spending have improved the school’s operating performance.

WASHINGTON — Two District of Columbia universities are tapping the bond markets this week in separate tax-exempt and taxable transactions totaling $145 million.

New York City received expressions of interest from 18 different academic institutions looking to construct and operate a new applied science and engineering research campus in the city.

DALLAS — The Arizona budget bill passed by the Senate on Wednesday calls for $1.3 billion in cuts to avoid borrowing and sharply reduces funding for education.

DALLAS — Louisiana Gov. Bobby Jindal presented the Legislature on Friday with a proposed $24.93 billion operating budget for fiscal 2012 that allocates $1.12 billion less than in the current fiscal year.

CHICAGO — The Illinois Finance Authority board advanced borrowing plans Tuesday for three central Illinois hospitals seeking to refund debt or raise funds for new projects, including $400 million for the Carle Foundation’s overhaul of its Urbana campus.

CHICAGO — Trinity Health Credit Group’s plan to buy Loyola University Health System should bolster the latter’s fiscal standing, though analysts say it’s too early to tell what impact the acquisition will have on Trinity’s balance sheet.

CHICAGO — Fitch Ratings has stripped the Illinois Institute of Technology of its investment-grade rating and assigned a negative outlook to the school and its $190 million of outstanding revenue bonds, which were issued through the Illinois Finance Authority.

Moody’s Investors Service last week revised its outlook for Fordham University to stable from positive as the school plans to increase its borrowing more quickly in advance of expected fundraising and balance-sheet growth.

The University of Oregon is pushing ahead with legislation for a controversial plan to sell $800 million of bonds to help create an endowment twice that size.

The Dormitory Authority of the State of New York last week gave final approval to $150 million of bonds for a university and preliminary approval to $72.8 million for lower education projects.

Standard & Poor's Tuesday revised its outlook to positive from stable on the A rating of Western Kentucky University's 2002 and 2003 consolidated educational buildings revenue bonds.

Moody's Investors Service has downgraded Hamline University's rating to Baa2 from Baa1 due to its highly leveraged balance sheet. The move affects $56 million of debt, including this week's $26 million issued through the Minnesota Higher Education Facilities Authority.

DALLAS — A wave of financial emergencies brought on by deep cuts in Texas education spending will bring additional credit scrutiny to school districts but not necessarily downgrades, Standard & Poor's analysts said Tuesday.

DALLAS — The Texas A&M University System will offer one of the largest Southwest deals Tuesday in a lean municipal market.

Standard & Poor’s has revised its outlook on outstanding University of Southern California debt to stable from negative because the school has maintained solid finances.

Indiana college and university officials say they need at least $700 million for new capital projects, but lawmakers say they are unlikely to fund the requests in the cash-strapped state’s upcoming two-year budget.

WASHINGTON — South Carolina expects to competitively issue $342.7 million of refunding bonds and $126.2 million of general obligation bonds for four higher education institutions this week.

Standard & Poor’s last week revised gilt-edged Amherst College’s outlook to stable from negative due to an improvement in the school’s liquidity.

Real estate development firm Majestic Realty Tuesday announced a proposal to build a new football stadium at the University of Nevada, Las Vegas, with the help of tax-increment bond financing.