Bond Ratings

External economic, natural, or other events may affect the creditworthiness of the University’s debt from time to time. Nevertheless, the University is committed to ensuring that actions within its control are prudent and appropriate to maintain a high-quality credit rating.

There is a direct correlation between an institution’s credit rating and its cost of borrowing. Therefore, the University seeks to maintain long-term bond ratings in the “A” category. More specifically, the pro forma issuance of debt, when supported by the full faith and credit of the University, will not result in a rating below the A3/A-level from Moody’s Investors Service and Standard & Poor’s.