Archive for Lafayette Sports Fan Forum This forum is not affiliated in any way with Lafayette College, Lafayette College Athletics, The Maroon Club or any other official organization. Please be respectful of other posters as well as the athletes, coaches and administrators.
 


       Lafayette Sports Fan Forum Forum Index -> Whatever else
bethlehempard

Moody's weighs in

Moody's just assigned an Aa3 rating to $53 million in revenue and refunding bonds. They noted that gifts per student were $10,000 last year. The report is good overall and per student revenue growth was 4.9 in fiscal 2013.
In the con side, operation margin is below peers leverage is high relative to peers. They do not define the peers but being lumped in with Princeton and certain other nearby schools would not help.
Pard4Life

Interesting.  Why are we leveraged?  I guess they borrow against donations?  To do the actual projects?
bethlehempard

Holy Cross was affirmed at Aa3 today. Standard PL grade though Boston is lower. A1 I think.
Cedar Crest may bring back some good memories to the 55-and-over crowd, but last rating I saw was an S&P BB+.
Low-endowment schools are feeling a squeeze, they always will. They've been through it before.
The Sweet Briar case is interesting. The small Virgina school opted to close after 114 years rather than continue operating losses. The school had a BBB with negative outlook at the time.
bethlehempard

S&P on Colgate, March 17
AA affirmed on $199.6 million of revenue bonds.
Outlook stable.
Fall 2013 selectivity: 26 percent.
Endowment of $816 million vs $199.6 million in debt.
Good ratios.

All debt is fixed-rate and the school is considering borrowing more within five years.
bethlehempard

Colgate June 18: S&P AA on $48.4 million in bonds. The agency cited strong demand, large endowment, adequate ratios and a "strong fundraising history."
Competition for students and variable GAAP operating performance are potential cons.
The money will be used for construction and renovation of facilities, including sports venues.
flyfisher

That average gift of 10K/student is pretty strong in my opinion.
bethlehempard

My colleagues from Gate are a loyal bunch, just different. Hockey/football first and lacrosse might come ahead of the following for their basketball program.
Perhaps spending much of the year up in the tundra that is Hamilton creates a sense of unity. I went there once during my undergraduate years, we left in late November but somehow arrived several hours later in what appeared to be February.
It's a beautiful place though.
bethlehempard

Moody's placed an Aa2 on $72 million of Bucknell debt to be sold tomorrow.
Pros: financial strength, managed leverage though debt has increased, liquidity and strong student demand.
Cons: competitive market, assets per student and lower average giving per student than peers.
bethlehempard

Just an aside, Muhlenberg is at A+ and stable with Moody's. The LV college partnership is cited as a positive.
The school gets 88 percent of its operating revenue from tuition and fees but has good ratios.
SixtyEighter

Speith the golfer

Factoid : This guy's father played baseball at Lehigh and his mother played basketball at Moravian . Both are from the Lehigh Valley.
NewXbo

Re: Speith the golfer

SixtyEighter wrote:
Factoid : This guy's father played baseball at Lehigh and his mother played basketball at Moravian . Both are from the Lehigh Valley.


Doe it start with a W?
SixtyEighter

Sorry the subject line didn't post. I was referring to Speith .
bethlehempard

Alright you figured it out! I am Jordan Spieth and it would still be a secret if not for you nosy kids!
Actually I hope the credit-ratings stuff isn't too boring. For all the faults of the ratings agencies -- Enron -- they do bring some potentially interesting facts forward and they are better with schools than they are with corporations.
NewXbo

Breaking news Bethlehempard, Jolly Joe Timmer ha died
bethlehempard

NewXbo wrote:
Breaking news Bethlehempard, Jolly Joe Timmer ha died


Actually I knew JJT. Great guy but the music ... Well.

       Lafayette Sports Fan Forum Forum Index -> Whatever else
Page 1 of 1
Create your own free forum | Buy a domain to use with your forum