Public Finance Higher Education Roundtable (Virtual)
The New Pace of Change
Join Moody's for a roundtable focused on the credit outlook for US higher education at a pivotal moment of sector-wide change. Our analysts will examine the policy, market, and structural forces converging to reshape institutional strategy and credit trajectories across colleges and universities, with discussion topics including:
Discussion topics include:
- How demographic trends, tuition pressure, and expense growth are translating into measurable financial outcomes
- Whether institutional differentiation is accelerating — and what that means for consolidation, restructuring, and closure risk
- What the growing emphasis on reserves, cash flow adaptability, and capital discipline signals about the sector's direction
- How institutions are responding strategically to mounting pressure — and what those choices mean for credit
- What recent federal policy shifts portend for enrollment, liquidity, and long-term planning
Speakers
Rachael McDonald
Associate Managing Director
Moody's Ratings
Ferdinand Perrault
Vice President – Senior Credit Officer
Moody's Ratings
Omar Ouzidane
Vice President -Senior Analyst
Moody's Ratings
Jeffrey Kaufmann
Vice President -Senior Credit Officer
Moody's Ratings
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Rachael Royal McDonald is an Associate Managing Director leading the Housing Finance, State Revolving Funds and Municipal Supported Products Teams. Prior to this role, Rachael spent 16 years as a lead analyst covering the State Housing Finance Agency, State Revolving Fund and Military Housing sectors. Prior to joining Moody’s, Rachael worked for Deloitte Consulting and The Advisory Board Company. Rachael holds an MBA and a Masters in Social Work from Columbia University and a BA from Brown University.
Ferdinand Perrault is a Vice President – Senior Credit Officer in Moody’s Public Finance Housing & State Revolving Funds Team. He serves as tenured member and rating committee chair for Housing, State Revolving Funds and Infrastructure Finance credits with over 20 years of experience. He is also the lead analyst for state and local housing finance agency single and multifamily bond programs as well as for clean water and drinking water revolving funds. In addition he maintains a portfolio of project finance credits within the housing sector. He is also the surveillance coordinator, overseeing the process of ensuring timely reviews of the team’s credit portfolio.
Prior to joining Moody’s, Ferdinand was a registered analyst at Dreyfus Mutual Funds. Ferdinand received his B.A. from Baruch College.
Omar Ouzidane is a VP–Senior Analyst in Moody’s Public Finance Housing & State Revolving Funds Team. He serves as a rating committee member and chair. He is also a lead analyst for a wide range of credits that span across all sectors covered by the team. These include state and local housing finance agency bond programs, state revolving funds programs, and project finance credits. Prior to moving into his current role, Omar was a member of the U.S. Public Infrastructure Team where he was responsible for the assessment and rating of a portfolio of U.S. toll road, airport, mass transit, state revolving funds and solid waste sectors. Omar holds a B.A. from Baruch College and a M.S. from Pace University.
Jeffrey Kaufmann is a Vice President/Senior Credit Officer within the Housing and Finance & State Revolving Funds Team. Jeff serves as lead analyst for housing finance agency single family and multifamily programs, project finance transactions within the student and military housing sectors, as well as affordable housing development projects. Prior to his current role, Jeff was a member of the Higher Education Team serving as lead analyst for a portfolio of large public university systems and prominent private institutions. He currently serves on numerous rating task forces including public private partnerships, public pensions and analyst education.
Prior to rejoining Moody's, Jeff was a Managing Director and Head of Government Research at AIG, leading the Municipal and Sovereign credit teams within the Public Fixed Income Group. Jeff holds an MA in Public Policy and Administration from the State University of New York at Binghamton where he also received an undergraduate degree in Political Science.