WEST LAFAYETTE, Ind. (PRWEB) January 22, 2016
Standard & Poor’s has announced that Purdue University’s credit rating has been upgraded from AA+ to AAA, the agency’s highest level.
With the new rating, Purdue now has the highest ratings possible from both S&P and Moody’s Investors Service, from which Purdue has held the Aaa rating since 2010.
“Purdue is one of five public universities holding the highest possible ratings from both agencies,” said Jim Almond, senior vice president and assistant treasurer. “This is a reflection of our financial stewardship as well as our strong balance sheet and demand niche as Indiana’s land-grant institution.”
The higher credit rating will enable a lower cost of financing on future bond offerings.
The rating reflects S&P’s assessment of Purdue’s strong enterprise profile, financial strength and manageable debt position along with Purdue’s co-flagship position in Indiana’s public higher educational system and continuing state operating support, strong operating results and successful fundraising record.
Sources: James S. Almond, 765-494-9706, jsalmond(at)purdue(dot)edu
Denise Laussade, 765-496-1223, dlaussade(at)purdue(dot)edu