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Rating College Debt: A Case Study Of Union College, Laura Mueller

Honors Theses

On Friday March 3rd President Stephen Ainlay made an announcement of 'the largest most expensive most complex project in Union's history.' President Ainlay is referencing the massive rebirth of one of Union's most central academic buildings Science and Engineering. The three-phrase building project will take an estimated three years and cost a total of $100 million. About $50 million of this project will be financed through debt. This comes at a time when Moody's a top rating agency changed the methodology for rating higher education debt. My thesis explores the impact of the new methodology on Union's rating. While the …