Religious affiliations of colleges and universities can have an indirect positive or negative impact on credit quality, Standard & Poor's Corp. said Monday.

The rating agency said in CreditWeek Municipal that "while a religious tie is not, in and of itself, a credit determinant, such a relationship can afect credit factors like student demand, revenue diversity, and spending flexibility."

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.