Wayne State University Plans to Sell $31.8 Million for Refunding.

Wayne State University plans to sell $31.8 million of Series 2024A general revenue refunding bonds to refund a portion of its outstanding Series 2015A general revenue and refunding bonds. Despite facing weak demographic trends and enrollment declines for regional public universities in Michigan, Wayne State has maintained stable ratings from Moody's and S&P. The university's stable enrollment, net tuition revenue, and effective financial management have contributed to its stable operating performance. Moody's also noted that Wayne State's reserves are strong and growing, and its research portfolio and philanthropy support its strategic position. S&P highlighted the university's broad pledge of general revenue and its strong enterprise risk profile. [Extracted from the article]

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