Xavier takes ball and goes home...

[Binturong05]

In the esoteric world of public finance, credit ratings are paramount to accessing capital markets in order to finance large scale projects, such as administration buildings, classrooms, labs, parking garages and stadiums and arenas. Credit ratings for typical government borrowers tend to be highly clustered in the upper ranges from AAA to about A, with ratings below the A range, such as BBB and below, often translating to much higher financing costs for the borrower. Upon being informed by s & p that their credit rating of "A-" was being place on negative outlook and that it may be downgraded to low investment grade, Xavier's leadership requested the rating agency no longer rate them. When things don't go their way the quitters over at Xavier take their ball and go home.


https://emma.msrb.org/IssueView/Details/EP375371

https://emma.msrb.org/SS1377177-SS1072539-SS1479597.pdf

https://emma.msrb.org/SS1379166-SS1073911-SS1481100.pdf

[Lobot]

Interesting.

This is out of my ball park a bit. How does Ohio monitoring public finance and a private school fundraising for projects go together here? Is the monitoring described above done by the state because the bonds are available to the public as a financial vehicle?

Also in the 1st PDF, how the heck did they qualify for $3.1M from the CARES act? They don't fall into any of the 4 catagories for relief unless they somehow made themselves to out to be a small business.

[red_n_black_attack]

Interesting.

This is out of my ball park a bit. How does Ohio monitoring public finance and a private school fundraising for projects go together here? Is the monitoring described above done by the state because the bonds are available to the public as a financial vehicle?

Also in the 1st PDF, how the heck did they qualify for $3.1M from the CARES act? They don't fall into any of the 4 catagories for relief unless they somehow made themselves to out to be a small business.

UC received finding from the CARES act. It will be distributed to students with financial need, $500 per student with any financial aid and $250 per student who completed FAFSA seeking aid, but no aid granted. I think UC received around $4 million for this program.

[Lobot]

UC received finding from the CARES act. It will be distributed to students with financial need, $500 per student with any financial aid and $250 per student who completed FAFSA seeking aid, but no aid granted. I think UC received around $4 million for this program.

OK now that makes sense if it's going directly down to the students.