A healthy enrollment, including success in recruiting out-of-state students, sound leadership and rising fundraising levels have resulted in a positive economic rating for West Virginia University from a leading credit rating firm.
WVU s long-term revenue bonds have been affirmed with an Aa3 rating by Moody’s Investors Services, a financial research and analysis corporation that provides credit ratings for government and private institutions. Moody’s assessed WVU as “stable,” a reflection of the University’s credit strength, financial condition and ability to pay its outstanding debt.
Also considered in the ratings were the state economy and leadership and also WVU’s history it’s the second Moody’s endorsement in the past three years. Moody’s also raised the University’s credit rating from A1 to Aa3 in 2010, a change due to a recalibration of its rating for many public higher education institutions.
“The affirmation of the rating and the stable outlook for the future allow the University to better serve our students, support the University’s research agenda and meet the goals stated in the WVU 2020 Strategic Plan,” WVU Vice President for Administration and Finance Narvel Weese said.
The University’s $240 million series of 2011B and 2011C bond funds were awarded the rating on Sept. 12 by Moody’s. The bonds will be sold next week and will generate funds for capital improvements on the WVU Evansdale campus including the Student Health Building, a new building for the College of Physical Activity and Sport Sciences, a new building for the Davis College of Agriculture, Natural Resources, and Design and a new engineering building.
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CONTACT: University Relations News