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Xavier takes ball and goes home...

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  • Xavier takes ball and goes home...

    In the esoteric world of public finance, credit ratings are paramount to accessing capital markets in order to finance large scale projects, such as administration buildings, classrooms, labs, parking garages and stadiums and arenas. Credit ratings for typical government borrowers tend to be highly clustered in the upper ranges from AAA to about A, with ratings below the A range, such as BBB and below, often translating to much higher financing costs for the borrower. Upon being informed by s & p that their credit rating of "A-" was being place on negative outlook and that it may be downgraded to low investment grade, Xavier's leadership requested the rating agency no longer rate them. When things don't go their way the quitters over at Xavier take their ball and go home.


    https://emma.msrb.org/IssueView/Details/EP375371

    https://emma.msrb.org/SS1377177-SS1072539-SS1479597.pdf

    https://emma.msrb.org/SS1379166-SS1073911-SS1481100.pdf
    "In the morning he would read the Bible with another coach. Then, in the afternoon, he would go out and cheat kids who had probably saved up money from mowing lawns to buy those raffle tickets. That's Jim Tressel." - former colleague to Jim Tressel as quoted in Sports Illustrated.

  • #2
    Interesting.

    This is out of my ball park a bit. How does Ohio monitoring public finance and a private school fundraising for projects go together here? Is the monitoring described above done by the state because the bonds are available to the public as a financial vehicle?

    Also in the 1st PDF, how the heck did they qualify for $3.1M from the CARES act? They don't fall into any of the 4 catagories for relief unless they somehow made themselves to out to be a small business.
    Brent Wyrick
    92 Final Four Front Row
    @LobotC2DFW

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    • #3
      Originally posted by Lobot View Post
      Interesting.

      This is out of my ball park a bit. How does Ohio monitoring public finance and a private school fundraising for projects go together here? Is the monitoring described above done by the state because the bonds are available to the public as a financial vehicle?

      Also in the 1st PDF, how the heck did they qualify for $3.1M from the CARES act? They don't fall into any of the 4 catagories for relief unless they somehow made themselves to out to be a small business.
      UC received finding from the CARES act. It will be distributed to students with financial need, $500 per student with any financial aid and $250 per student who completed FAFSA seeking aid, but no aid granted. I think UC received around $4 million for this program.
      Red and Black are more of an Attitude than merely a color combination.

      Intimidate! Dominate! Celebrate!

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      • #4
        Originally posted by red_n_black_attack View Post

        UC received finding from the CARES act. It will be distributed to students with financial need, $500 per student with any financial aid and $250 per student who completed FAFSA seeking aid, but no aid granted. I think UC received around $4 million for this program.
        OK now that makes sense if it's going directly down to the students.
        Brent Wyrick
        92 Final Four Front Row
        @LobotC2DFW

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