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S&P affirms TSC’s ‘A’ ratings on existing revenue bonds

College receives a positive outlook rating

Gorgas-Hall-NewsThe Texas Southmost College (TSC) Board of Trustees and the administrative leadership team received a vote of confidence by Standard & Poor's Ratings Service (S&P) for continuing to demonstrate sound and responsible stewardship of the College's finances.

S&P, one of the world's leading credit rating agencies, affirmed the 'A' long-term rating and underlying rating (SPUR) on TSC District's existing revenue bonds in its latest report issued on Sept. 17, 2015. S&P also maintained its outlook of the College as positive.

"Texas Southmost College is extremely pleased that Standard & Poor's continues to recognize the arduous efforts of the College's Board of Trustees and our faculty and staff," said Dr. Lily F. Tercero, TSC president.
According to the report, the ratings given to TSC reflect S&P's view of the District's solid financial resources and positive operations that are consistent with the 'A' rating category.

The report stated, "the college district has made substantial progress on mitigating the financial, operational and enterprise risks identified as a result of the dissolution of the partnership with the University of Texas Brownsville (UTB)."
S&P added that the ratings TSC received from S&P are a reflection of the College's "strong financial resources for the rating category; a history of modest surpluses; diverse revenue stream with tuition; state appropriations and property taxes; strong growth in its tax base, a diverse economic base; and a nimble management team."

pdfRatingsDirect Analysis: Texas Southmost College District; Junior/Commmunity College

About Texas Southmost College
Originally established in 1926, Texas Southmost College currently offers the first two years toward a bachelor's degree, along with career and technical education leading to certificates and associate degrees, college preparatory studies to prepare students for college-level work, workforce training, and continuing education. TSC offers 53 programs of study leading to an associate degree or certificate. TSC became independently operational in the fall of 2013, after engaging in a 20-year contractual arrangement with a public university.

Last Updated on Tuesday, 03 November 2015 15:26