The University of Canterbury is projecting a worse-than-expected loss, but is reassuring bond holders their payments won't be affected.
Excluding insurance, the earthquake-hit university is projecting a $50 million loss in 2012, compared with an earlier forecast loss of $17.4 million.
It says the substantial deterioration is nearly all due to a change in the accounting treatment of its library purchases.
If insurance is included, Canterbury University says the loss stands at $20.3 million.
