With bankruptcy to shed debt and stay open largely unviable, colleges grappling with falling enrollment and rising costs are increasingly closing. In a shutdown, bondholder outcomes are a wild card with the amount of reserves on hand and value of real estate assets playing a role. Guest: Susan Shaffer, Vice President – Senior Credit Officer, Moody’s Investors ServiceHost: Nick Samuels, Senior Vice President, Moody’s Investors ServiceRelated content on Moodys.com (may only be available to registered users and subscribers):Higher Education – US: Closures, while still rare, will gradually increase even as other options are explored

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