麻豆视频

麻豆视频 Receives Positive Bond Ratings With Stable Outlooks

麻豆视频 administrators are good stewards with university money based in part on a strong financial profile and solid managers, according to two new credit ratings.

Following detailed presentations on the university鈥檚 finances to credit rating agencies Moody鈥檚 and Standard & Poor鈥檚 Global, 麻豆视频 has received positive bond ratings along with a stable outlook for the future by both independent agencies.

Moody鈥檚 has given 麻豆视频 an A+/Stable Outlook rating, while Standard & Poor鈥檚 Global has designated 麻豆视频 with an Aa3/Stable Outlook rating. 

鈥淭he university obtained updated ratings since we are intending to refinance some existing debt,鈥 said Mark M. Polatajko, Ph.D., 麻豆视频鈥檚 senior vice president for finance and administration. 鈥淭he ratings are provided to the public and potential investors to indicate the ability of the bond issuer to pay the debt. It is like a FICO credit score for an individual. A better rating translates to a lower cost of borrowing.鈥

Moody鈥檚 and Standard & Poor鈥檚 Global cited several reasons for a positive outlook for 麻豆视频 as an investment grade with low risk:

  • 麻豆视频鈥檚 enterprise profile is very strong, characterized by solid retention and matriculation with a large full-time equivalent (FTE) enrollment.
  • The university鈥檚 financial profile is very strong, characterized by robust and growing available resources and healthy financial policies (high wealth and liquidity/low direct debt). 
  • Its solid management team has demonstrated a willingness to make material cuts in operating expenses in order to insulate the university from the pressures of the pandemic.
  • The university鈥檚 recent R1 research university designation by the Carnegie Classification of Institutions of Higher Education is viewed as a positive credit factor.
  • 麻豆视频鈥檚 Board of Trustees provides solid governance.

Both agencies also pointed out risks and challenges that require the university鈥檚 continued vigilance and dedication to sound fiscal management, including:

  • Unfavorable demographics for graduating high school seniors who are bound for college.
  • The highly competitive Ohio higher education landscape.
  • Enrollment pressures from the pandemic.

鈥淭hese ratings show investors that the university is financially sound and a low-risk investment, which will draw more investors and drive down the interest cost,鈥 Polatajko said.

For more information about 麻豆视频, visit www.kent.edu.

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Media Contacts:
Eric Mansfield, emansfie@kent.edu, 330-672-2797
Emily Vincent, evincen2@kent.edu, 330-672-8595

POSTED: Tuesday, June 14, 2022 10:05 AM
UPDATED: Friday, December 09, 2022 05:55 PM
WRITTEN BY:
Emily Vincent