Fitch Ratings has upgraded The Ohio State University's Issuer Default Rating (IDR) to 'AA+' from 'AA'. Fitch has also upgraded to 'AA+' the ratings on general receipt bonds issue by Ohio State. The 'F1+' rating on bonds supported by self-liquidity has been affirmed.
Leveraging its strong commitment to sustainability goals within its physical environment, Ohio State secured the University System of Ohio’s first green bond designation with the successful issuance of its $600 million Series 2021A bonds.
Ohio State's innovative approach to capital markets will save the university another $11 million through the issuance of the Series 2017 General Receipts Bonds.
On Dec. 6, the university successfully issued nearly $70 million in bonds that advance refunded the Series 2008A General Receipts Bonds. With a true interest cost of 1.9 percent, the new bond issue will save Ohio State $11.1 million in debt payments compared with the previous issue.
Ohio State was able to take advantage of favorable market conditions because of our innovative multiyear debt issuance program, which provides the university with flexibility to quickly...