Tuesday, January 13, 2009
University of Southern Indiana announces new credit ratings
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Moody’s Investors Service, citing the University of Southern Indiana’s “…stable market position as the primary provider of four-year education in southwestern Indiana” has reaffirmed the long-standing “A2” rating of the University. Also, Standard and Poor’s rated the University “A”, in its first-ever rating of the University. The ratings were obtained as part of a plan to issue $50,350,000 in university bonds during the first week of February. The bonds will be used to finance the construction of the Business and Engineering Center and the University Center expansion. The Business and Engineering Center is already under construction on the University’s main quad. Bids will be opened for the University Center expansion on Tuesday, February 10. “The dual ratings were sought to give us the maximum possible presence in a credit market that is increasingly demanding,” said University Vice President for Business Affairs Mark Rozewski. “We think the confirmation of our financial strength by both the major rating agencies will stand us in good stead moving forward,” Rozewski said. The Moody’s report cited USI’s consistent selectivity in admissions, enrollment growth, and healthy operating margins as part of its justification for the rating. Standard and Poor’s, in its report, noted that the University had tuition that is the lowest among other Indiana public universities and that operating performance at USI is consistently positive. “Both ratings were issued after Governor Mitch Daniels announced his plan to recommend reductions in operating funding for all of Indiana higher education, which makes these high ratings an even stronger validation of our position than they might otherwise have been,” said Rozewski. Kathy W. Funke News & Information Services 812/465-7050 or kfunke@usi.edu |
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