Burrell College Of Osteopathic Medicine#s Revenue Bonds Assigned Preliminary #BBB+# Outlook Stable

Stocks and Financial Services Press Releases Friday June 29, 2018 10:42
NEW YORK--29 Jun--S&P Global Ratings

NEW YORK (S&P Global Ratings) June 28, 2018--S&P Global Ratings today assigned its 'BBB+' preliminary rating to the proposed $53.22 million series 2018 taxable educational facilities revenue bonds, issued by the Public Finance Authority on behalf of the Burrell College of Osteopathic Medicine (BCOM) project. The outlook is stable.

The 'BBB+' preliminary rating on BCOM reflects the significant demand for osteopathic education, the relatively simple operations entailed in providing higher education services, highly experienced faculty and staff, and our expectation of a minimum debt service coverage ratio of 1.91x through the debt term.

The final ratings will depend on our receipt and satisfactory review of all final transaction documentation, including legal opinions. Accordingly, the preliminary ratings should not be construed as the final ratings. If we do not receive final documentation within a reasonable timeframe, or if final documentation departs from the materials we reviewed, we reserve the right to withdraw or revise the ratings.


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