Higher education bonds

Strong Demand convinced the Los Angeles Community College District's finance team move ahead on plans to price a sizeable $1.4 billion in general obligation bonds this week.

Vanderbilt University in Nashville, Tenn., plans to restructure its medical center as a separate nonprofit over the next year to adapt to the changing health care environment.

Oregon Gov. John Kitzhaber is proposing to spend over half of an $18.6 billion budget on schools, community colleges, and universities in the state.

Colorado State University President Tony Frank said he now supports plans to build a $195 million stadium on the Fort Collins campus through a combination of donations and revenue bonds.

Facing continued deficit operations, Mills College in Oakland, Calif. received a downgrade to Baa3 from Baa2 from Moody's Investors Service.

Moody's Investors Service said it downgrades Mills College, Calif.'s debt rating to Baa3 from Baa2.

With a $29.5 million bond sale set for next week, University of Cincinnati is poised to become the first public university to tap into the increasingly popular market.

The Internal Revenue Service has ruled that refinancing loans will qualify as student loans that can be financed with tax-exempt bonds.

University of Houston president and chancellor Renu Khator will become chair of the Federal Reserve Bank of Dallas in 2015. Khator will be replaced as deputy chair by BNSF Railway Co. executive chairman Matthew K. Rose.

Moody's Investors Service has revised its outlook on the University of Pennsylvania to positive from stable on expectations that the Ivy League school will continue its momentum in student enrollment, donor support and building flexible reserves.

The University of Arkansas Board of Regents will look for savings with a $90 million refunding of bonds issued in 2006 for the medical school.

The University System of Georgia's 65-year college housing privatization, which will defease $325 million in bonds, is being closely watched by higher education, finance, and housing industries.

Standard & Poor's revised its outlook on BBB-rated Iona College to stable from negative, citing improved financial ratios as the Catholic school battles enrollment pressures.

The Internal Revenue Service is auditing two bond issues sold in 2007 by Colorado authorities for a university and a health care borrower.

The University of Texas System could see savings of 10% on an advance refunding of $250 million of bonds expected to price Nov. 12.

Thomas Jefferson School of Law in San Diego plans to close on a debt restructuring agreement on Nov. 15 involving a sale-leaseback of its building that reduces $127 million in outstanding debt by two-thirds and resolves a default.

The University of Missouri Curators sold $150 million of new-money taxable bonds Monday with tentative plans to return the market next year to fund another $100 million in approved projects.

The decision by the State University of New York to expand an online learning platform to grow total system enrollment is a credit positive, Moody's said.

The Internal Revenue Service is auditing economic development revenue bonds issued by St. Joseph County, Ind. in 2007 for Saint Mary's College.

Hawaii Gov. Neil Abercrombie announced the nominations of four people to immediately fill vacancies on the University of Hawaii Board of Regents that resulted from resignations on the 15-member board.