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Moody's downgrades UT's bond rating
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SylvaniaRocket Offline
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Moody's downgrades UT's bond rating
05-21-2020 06:45 AM
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Boca Rocket Offline
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RE: Moody's downgrades UT's bond rating
(05-21-2020 06:45 AM)SylvaniaRocket Wrote:  https://www.13abc.com/content/news/Univ-...36771.html

Moody's also downgraded NYC's bond rating
from stable to negative mainly due to Coronavirus
at the beginning of April.
05-21-2020 07:01 AM
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BearcatMan Offline
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RE: Moody's downgrades UT's bond rating
(05-21-2020 07:01 AM)Boca Rocket Wrote:  
(05-21-2020 06:45 AM)SylvaniaRocket Wrote:  https://www.13abc.com/content/news/Univ-...36771.html

Moody's also downgraded NYC's bond rating
from stable to negative mainly due to Coronavirus
at the beginning of April.

Yeah, UTs Bond Rating is still Investment Grade, so I'm not too worried. They did specifically cite financial issues at the hospital as a reason for the downgrade from A1 to A2 and stated that a "conclusion" to that problem through remediation or sale would likely result in an increase back to A1.
05-21-2020 07:31 AM
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DetroitRocket Offline
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RE: Moody's downgrades UT's bond rating
(05-21-2020 07:31 AM)BearcatMan Wrote:  
(05-21-2020 07:01 AM)Boca Rocket Wrote:  
(05-21-2020 06:45 AM)SylvaniaRocket Wrote:  https://www.13abc.com/content/news/Univ-...36771.html

Moody's also downgraded NYC's bond rating
from stable to negative mainly due to Coronavirus
at the beginning of April.

Yeah, UTs Bond Rating is still Investment Grade, so I'm not too worried. They did specifically cite financial issues at the hospital as a reason for the downgrade from A1 to A2 and stated that a "conclusion" to that problem through remediation or sale would likely result in an increase back to A1.

An Ohio House bill passed yesterday that would allow the sale of 23 state properties including the 170 acre Scott Park campus. No buyer has been announced. Obviously this will impact the current BB and SB facilities.
05-21-2020 09:17 AM
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BearcatMan Offline
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Post: #5
RE: Moody's downgrades UT's bond rating
(05-21-2020 09:17 AM)DetroitRocket Wrote:  
(05-21-2020 07:31 AM)BearcatMan Wrote:  
(05-21-2020 07:01 AM)Boca Rocket Wrote:  
(05-21-2020 06:45 AM)SylvaniaRocket Wrote:  https://www.13abc.com/content/news/Univ-...36771.html

Moody's also downgraded NYC's bond rating
from stable to negative mainly due to Coronavirus
at the beginning of April.

Yeah, UTs Bond Rating is still Investment Grade, so I'm not too worried. They did specifically cite financial issues at the hospital as a reason for the downgrade from A1 to A2 and stated that a "conclusion" to that problem through remediation or sale would likely result in an increase back to A1.

An Ohio House bill passed yesterday that would allow the sale of 23 state properties including the 170 acre Scott Park campus. No buyer has been announced. Obviously this will impact the current BB and SB facilities.

Yep...there's no way they have the flat capital to build new stadiums, so if gifts don't come (and the estimate is $4.3M for both), I doubt there will be programs for either for very long. Only way that would change is if the potential future owner allowed for UT to retain control of those facilities (which would hamstring any property development for the buyer OR savings for UT). Writing is clearly on the wall now unfortunately...
05-21-2020 10:22 AM
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eastisbest Offline
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RE: Moody's downgrades UT's bond rating
I thought I'd already explained this?

1) The University will offer it to the city.
2) The city will take ownership under the guise of "luring" a major out of town developer to bring blue collar jobs and pretty to a struggling neighborhood. Said developer will do nothing with the property for years because the city won't cooperate (hmmm) but does give them a nice rock.
3) City then takes back the property and sells it for a song to a local band-aid firm who then arranges partial sale in a day or so to an out of town developer and the rest to metroparks for a song. The efficiencies of private business at work.
4) Any nearby land that has revenue potential beyond any other in the city will then also be sold to the metroparks for a buck, because it costs too much to mow the grass.
5) About this time, said developer will realize he has overbuilt "market rate" housing, "donates" one of those buildings to the metro park for a tax deduction,
6) the city builds a 15 ft section of useless pretty road nearby for 15 million dollars to impress golfers who will spend the rest of their natural lives talking about that road in Toledo
7) and as a cherry on top, so that develpment residents and Ottawa Hills types do not have to risk waving hello to one of the neighborhood's established residents, the city builds a 3 mllion dollar footbridge over Nebraska Ave. that not counting first day when all the local politicians walk their families over it and never again, will only have cost an average of $15 per street crossing over ten years, not counting grafiti removal and other maintenance costs.
8) The apartments with a nice view will go to three former neighborhood residents looking to relive old times and the other 100 apartments that no one wants because they were built looking at other apartments instead of the nice view will replace (for a tax de/reduction) local LMHA which suddenly got planned for demolition (making the three market rate residents wonder why they went along with the bridge plan).

Typically plans should be 7 steps but this is government.

There's a plan ladies and gentlemen. Stop sweating.
05-21-2020 11:15 AM
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DetroitRocket Offline
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Post: #7
RE: Moody's downgrades UT's bond rating
(05-21-2020 11:15 AM)eastisbest Wrote:  I thought I'd already explained this?

1) The University will offer it to the city.
2) The city will take ownership under the guise of "luring" a major out of town developer to bring blue collar jobs and pretty to a struggling neighborhood. Said developer will do nothing with the property for years because the city won't cooperate (hmmm) but does give them a nice rock.
3) City then takes back the property and sells it for a song to a local band-aid firm who then arranges partial sale in a day or so to an out of town developer and the rest to metroparks for a song. The efficiencies of private business at work.
4) Any nearby land that has revenue potential beyond any other in the city will then also be sold to the metroparks for a buck, because it costs too much to mow the grass.
5) About this time, said developer will realize he has overbuilt "market rate" housing, "donates" one of those buildings to the metro park for a tax deduction,
6) the city builds a 15 ft section of useless pretty road nearby for 15 million dollars to impress golfers who will spend the rest of their natural lives talking about that road in Toledo
7) and as a cherry on top, so that develpment residents and Ottawa Hills types do not have to risk waving hello to one of the neighborhood's established residents, the city builds a 3 mllion dollar footbridge over Nebraska Ave. that not counting first day when all the local politicians walk their families over it and never again, will only have cost an average of $15 per street crossing over ten years, not counting grafiti removal and other maintenance costs.
8) The apartments with a nice view will go to three former neighborhood residents looking to relive old times and the other 100 apartments that no one wants because they were built looking at other apartments instead of the nice view will replace (for a tax de/reduction) local LMHA which suddenly got planned for demolition (making the three market rate residents wonder why they went along with the bridge plan).

Typically plans should be 7 steps but this is government.

There's a plan ladies and gentlemen. Stop sweating.

It appears there is a buyer (not city) yet unnamed.
05-21-2020 11:25 AM
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BearcatMan Offline
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Post: #8
RE: Moody's downgrades UT's bond rating
(05-21-2020 11:15 AM)eastisbest Wrote:  I thought I'd already explained this?

1) The University will offer it to the city.
2) The city will take ownership under the guise of "luring" a major out of town developer to bring blue collar jobs and pretty to a struggling neighborhood. Said developer will do nothing with the property for years because the city won't cooperate (hmmm) but does give them a nice rock.
3) City then takes back the property and sells it for a song to a local band-aid firm who then arranges partial sale in a day or so to an out of town developer and the rest to metroparks for a song. The efficiencies of private business at work.
4) Any nearby land that has revenue potential beyond any other in the city will then also be sold to the metroparks for a buck, because it costs too much to mow the grass.
5) About this time, said developer will realize he has overbuilt "market rate" housing, "donates" one of those buildings to the metro park for a tax deduction,
6) the city builds a 15 ft section of useless pretty road nearby for 15 million dollars to impress golfers who will spend the rest of their natural lives talking about that road in Toledo
7) and as a cherry on top, so that develpment residents and Ottawa Hills types do not have to risk waving hello to one of the neighborhood's established residents, the city builds a 3 mllion dollar footbridge over Nebraska Ave. that not counting first day when all the local politicians walk their families over it and never again, will only have cost an average of $15 per street crossing over ten years, not counting grafiti removal and other maintenance costs.
8) The apartments with a nice view will go to three former neighborhood residents looking to relive old times and the other 100 apartments that no one wants because they were built looking at other apartments instead of the nice view will replace (for a tax de/reduction) local LMHA which suddenly got planned for demolition (making the three market rate residents wonder why they went along with the bridge plan).

Typically plans should be 7 steps but this is government.

There's a plan ladies and gentlemen. Stop sweating.

I tell you what...that's a pretty damn good rundown 03-lmfao

I had always heard that the County was between the old Southwyck property and Scott Park for their new Family/Career Services campus...now that Amazon's parking lot is going in at Southwyck, maybe they'll but in for $1.
05-21-2020 12:12 PM
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