Missouri State University Bond Rating Outlook Revised To Stable From Positive On Increased Debt

NEW YORK (S&P Global Ratings) March 14, 2019--S&P Global Ratings revised its 
outlook to stable from positive and affirmed its 'A+' rating on Missouri State 
University's (MSU) series 2010B, 2014A, 2015A, and 2016A auxiliary enterprise 
revenue bonds. We also affirmed our 'A+' long-term rating on the university's 
series 2010B, 2014A, and 2015 bonds, issued by the Missouri Health & 
Educational Facilities Authority (MOHEFA). 

"The revision to stable reflects available resources ratios that, with 
additional debt issued in the last two years, are more consistent with the 
rating and similarly rated peers," said S&P Global Ratings credit analyst 
Stephanie Wang. The enterprise profile also remains stable and more comparable 
with 'A+' rated peers. 

The stable outlook reflects S&P Global Ratings' expectation that MSU will 
maintain a steady enrollment and demand profile, operating performance will 
remain at or near current levels on a full accrual basis, and available 
resource ratios will remain consistent with the rating.