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bethlehempard

Moravian downgraded

The Bethlehem college was cut to BBB+ from A- by S&P because of plans to sell $27 million in debt. Also, high reliance on revenue from students and its debt burden. Outlook: stable.
Time for a fund-raising campaign, Greyhounds.
LeopardBall10

Re: Moravian downgraded

bethlehempard wrote:
The Bethlehem college was cut to BBB+ from A- by S&P because of plans to sell $27 million in debt. Also, high reliance on revenue from students and its debt burden. Outlook: stable.
Time for a fund-raising campaign, Greyhounds.


I wonder what the sale is for? I wonder if they are getting ready for facilities upgrades and a big capital campaign?
bethlehempard

They have a plan for renovations at a building for healthcare-related stuff but that's not a $27 million project. Moravian is an excellent school and has already had staff cutbacks. They also cut back on off-campus living after putting up a new dorm downtown.
Muhlenberg BTW reportedly relies on student fees for 88 percent of revenue. I'd have expected the Berg to be lower.
bethlehempard

S&P assigned a BBB+ to $31.3 million of Moravian debt. $22 million will be for a health-science building. Other uses include $2.1 million for a synthetic field for lacrosse, field hockey and soccer.
Enrollment is up, the agency says.
The school is also letting upperclassmen live off-campus again.

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