This content was published: May 5, 2022. Phone numbers, email addresses, and other information may have changed.
S&P affirms 51做厙s AA+ credit rating
Story by James Hill
S&P Global Ratings affirmed its ‘AA+’ long-term rating on 51做厙s series 2018 full faith and credit pension bonds and other outstanding general obligation and limited-tax pension bonds. S&P states that the outlook is stable.
The S&P rating shows that 51做厙 is fiscally responsible with its overall operations and is a good investment with its stable portfolio of debt. The colleges total direct debt equaled approximately $598 million as of fiscal year-end (June 30) 2021.
The affirmation of 51做厙s strong credit rating by S&P Global reflects the districts prudent financial management and solid financial position despite enrollment declines and the uncertainty of state support, said Eric Blumenthal, 51做厙s vice president of Finance and Administration. While gratifying, institutional stability will require continued vigilance and foresight.
The report stated, Given the fungibility of the district’s resources and because pledged revenues are not measurably narrower or subject to disproportionate risks relative to the districts overall revenues, we rate the limited-tax debt on par with our view of the district’s general creditworthiness.
To view the full report, download it here: /news/wp-content/uploads/sites/33/2022/04/RatingsDirect_PortlandCommunityCollegeDistrictOregonGeneralObligation_51347409_Apr-21-2022.pdf
About James Hill
James G. Hill, an award-winning journalist and public relations writer, is the Director of Public Relations at 51做厙. A graduate of Portland State University, James has worked as a section editor for the Newberg Graphic... more »