Moody’s Investors Service Upgrades Embry-Riddle Aeronautical University’s Credit Rating
Daytona Beach, Florida (PRWEB) July 22, 2017 -- Moody’s Investors Service (“Moody’s”) has increased its credit rating for Embry-Riddle Aeronautical University from Baa1 to A3. This investment-grade rating is the highest underlying rating the University has received from Moody’s.
Moody’s announced the increase on July 18, 2017, citing the University’s large and growing scale of operations and consistently positive operating performance as well as strong fiscal management.
“We are extremely pleased to receive the upgraded rating from Moody’s,” said Mori Hosseini, Chair of Embry-Riddle’s Board of Trustees. “This upgrade is a result of the commitment of the Embry-Riddle Board and Administration to being good stewards of the University’s financial resources. A consistent focus on operating efficiencies and strategic investments in our programs and our facilities has clearly strengthened the University.”
Dr. P. Barry Butler, President of Embry-Riddle, noted that the Moody’s report commented on the University’s disciplined financial and capital planning. “The Board and the Administration work very closely together in these two key areas,” he said. “Students are the ultimate benefactors of the increased rating. Now, the University will have access to even lower interest rates, which will allow us to continue to focus on affordability and our graduates’ return on investment.”
Moody’s further indicated that the University’s market niche as the leading provider of aviation and aerospace technology-related education was a key strength.
“The rating is also indicative of the University’s strategic positioning,” Dr. Butler added. Further, “our focus on relevant, STEM-related degrees has contributed to increased enrollment.”
The announcement by Moody’s can be found online.
About Embry-Riddle Aeronautical University
Embry-Riddle Aeronautical University, the world’s largest, fully accredited university specializing in aviation and aerospace, is a nonprofit, independent institution offering more than 80 baccalaureate, master’s and Ph.D. degree programs in its colleges of Arts & Sciences, Aviation, Business, Engineering and Security & Intelligence. Embry-Riddle educates students at residential campuses in Daytona Beach, Fla., and Prescott, Ariz., the Worldwide Campus with more than 125 locations in the United States, Europe, Asia and the Middle East, and through online programs. The university is a major research center, seeking solutions to real-world problems in partnership with the aerospace industry, other universities and government agencies. For more information, visit http://www.embryriddle.edu, follow us on Twitter (@EmbryRiddle) and facebook.com/EmbryRiddleUniversity, and find expert videos at YouTube.com/EmbryRiddleUniv
Ginger Pinholster, Embry-Riddle Aeronautical University, http://www.erau.edu, 386-226-4811, [email protected]
Share this article