Fitch raises Texas Tech University System revs to 'AA+' - Reuters

Fitch Ratings has upgraded the rating, to 'AA+' from 'AA', on approximately $554.9 million of revenue financing system (RFS) refunding and improvement bonds issued by the Board of Regents of Texas Tech University System (TTUS, or the system).

...

A strengthening enrollment profile has supported growth in the system's financial flexibility. Between fall 2008 and fall 2012, FTE enrollment has grown to 38,764 students (19.2%) system-wide. Each of the three campuses has experienced substantial growth, with Texas Tech University Health Sciences Center (TTUHSC) growing at a rapid average of 10.8% per year as it ramps up to full capacity. Growth is more moderate at Texas Tech University (TTU) and Angelo State University (ASU), with average annual growth of 4.1% and 2.5%, respectively, consistent with Fitch's expectations for a mature institution.

Read the full story >>