Arlington Higher Education Finance Corporation
CUSIP 041806JK7
- Issue Currency: United States of America Dollars
- Announcement Date: 18-Oct-2018
- News: S&P Global Ratings lowered its underlying rating to `BB` from `BBB-` on Arlington Higher Education Finance Corp., Texas` series 2016 and series 2017 education revenue bonds, issued for A.W. Brown Fellowship Leadership Academy (A.W. Brown). The outlook is stable. ""The lowered underlying rating reflects a material weakening in A.W. Brown`s credit fundamentals, in our view, based on fiscal 2017 performance and expected fiscal 2018 results, with operating deficits, below 1x annual debt service coverage, a history of covenant violations, and declining enrollment for fall 2018, combined with weakened student retention and overall demand,"" said S&P Global Ratings credit analyst Ying Huang.
- Issue Currency: United States of America Dollars
- Announcement Date: 18-Oct-2018
- News: S&P Global Ratings lowered its underlying rating to `BB` from `BBB-` on Arlington Higher Education Finance Corp., Texas` series 2016 and series 2017 education revenue bonds, issued for A.W. Brown Fellowship Leadership Academy (A.W. Brown). The outlook is stable. ""The lowered underlying rating reflects a material weakening in A.W. Brown`s credit fundamentals, in our view, based on fiscal 2017 performance and expected fiscal 2018 results, with operating deficits, below 1x annual debt service coverage, a history of covenant violations, and declining enrollment for fall 2018, combined with weakened student retention and overall demand,"" said S&P Global Ratings credit analyst Ying Huang.
- Issue Currency: United States of America Dollars
- Announcement Date: 23-Oct-2018
- News: S&P Global Ratings lowered its underlying rating to `BB` from `BBB-` on Arlington Higher Education Finance Corp., Texas` series 2016 and series 2017 education revenue bonds, issued for A.W. Brown Fellowship Leadership Academy (A.W. Brown). The outlook is stable. ""The lowered underlying rating reflects a material weakening in A.W. Brown`s credit fundamentals, in our view, based on fiscal 2017 performance and expected fiscal 2018 results, with operating deficits, below 1x annual debt service coverage, a history of covenant violations, and declining enrollment for fall 2018, combined with weakened student retention and overall demand,"" said S&P Global Ratings credit analyst Ying Huang.
