MSU Credit Rating Upgraded As University Prepares $250 Million Offering

EAST LANSING – Michigan State University’s long-term bond rating was increased on Tuesday by Standard & Poor’s as the university prepared a $250 million commercial paper offer.

The offering comes just a few days after the university set its budget for the 2014-15 school year, which raised tuitions by a composite rate of 2.8 percent (freshmen and sophomores would see their rates increase by 2.6 percent for instate students, while it would increase by 2.9 percent for juniors and seniors).

Standard & Poor’s raised the university’s long-term bond rating to AA+ from AA. Its short-term rating was set at A-1+ as was the rating for commercial paper.

The paper is being issued to refund capital projects, as well as outstanding debt and the principle on maturing debts.

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