Standard and Poors Rating Services has affirmed an A+ underlying rating for a series of long-term bonds issued by the West Virginia University Board of Governors.

Citing repeated years of operating surpluses and a positive enrollment trend, Standard and Poors issued the ratings report along with a stable outlook for the Universitys 1997A and 1997B revenue bonds.

The favorable rating by Standard and Poors follows a similar ranking earlier this year by another major financial research and credit analysis corporation. Moodys Investors Services affirmed an A1 rating for the Universitys 2004A, 2004B and 2004C revenue bonds in January.

The positive ratings impact the ability for the University to reduce the cost of debt when securing funding in the future. The stable outlook also sends a signal to University stakeholders that WVU is managing financial resources effectively.

This newest rating provides proof to investors that WVU continues to manage its financial responsibilities in a responsible manner, WVU Vice President for Administration and Finance Narvel Weese said.We have received a favorable endorsement from two key financial reporting institutionsboth of which have indicated the University is producing solid results and is expected to continue that performance in the future.

The Standard and Poors report stated that the A+ rating was a reflection of operating surpluses over the past three fiscal years averaging $12 million. Also highlighted was the Universitys return of 18 percent on total net assets and 44 percent growth in student-dependent revenues during the 2007 fiscal year.

Additionally, the report said that WVU has anexperienced and focused management teamwhich has continued to produce the operating surpluses while continuing to grow the Universitys programs and enrollment.

WVU s status as a flagship institution and planned growth in enrollment also played an important role in the issuance of the rating.

Standard and Poors cited a 16 percent growth in the number of full-time equivalent undergraduates in the past four years, continued growth of graduate programs and increases in the quality of students as positive factors for the financial health of the University. According to the report, despite a decline in the number of college-going high school students in the state, WVU continues to offset the problem by capturing a larger percentage of college-bound students in the state and by increasing enrollment of out-of-state students.