Robert Morris University Revenue Bonds (PA)
NAME: Robert Morris University Revenue Bonds (PA)
BONDHOLDER SECURITY: Secured by the gross revenues of the University.
USE OF BOND PROCEEDS: A portion of the proceeds of the Bonds will be used to finance the costs of issuance of the Bonds, the advance refunding of a portion of the Authority’s University’s Revenue Bonds, and the funding of any necessary debt service reserve.
RATINGS: Baa3 (Moody's as of 9/27/16)
OBLIGOR PROFILE: Robert Morris University is a private, nonsectarian four-year institution located in Moon, PA (suburb of Pittsburg). Founded in 1921, RMU enrolls 5,199 students, a majority of which are undergraduates.
- 83% of Freshman live on campus
- Enrollment steady around 4,200 undergrads
- Received 23% more applications in 2016
- Student resident occupancy 101-104% in the last several years
- Middle of the pack in terms of tuition vs comparable schools
- Operating revenues flat YOY
(Source: Official Statement dated October 5, 2016)
Although this information is obtained from sources believed to be reliable, we cannot guarantee its completeness or accuracy. For complete information regarding these bonds, please review the Official Statement, which can be provided upon request. Investing in bonds involves risk including possible loss of principal. Income may be subject to state, local, or federal alternative minimum tax. Offerings are subject to prior sale and market conditions. Bonds are subject to availability and price fluctuations. As with any investment, market values may fluctuate during the period the bonds are held. For specific yield and suitability of this offering, please contact your R. Seelaus & Co. Financial Advisor at 1-800-922-0584. Securities are offered through R. Seelaus & Co. 25 Deforest Ave. Suite 304, Summit, NJ 07901 Member FINRA/SIPC