In an effort to modernize decades-old timekeeping systems and improve core Human Resources transactions (e.g., iJANs and Appointments), cross-functional teams are working to introduce new, simpler processes and one modern system. The upgrades are planned for launch on July 30,…
University Earns Top Short-Term Credit Rating from Standard and Poor’s
Standard and Poor’s (S&P) credit rating service has assigned Syracuse University an A-1+ credit rating for its short-term notes program. This is the highest rating of this type assigned by S&P and a reflection of the University’s overall fiscal health and its capacity to meet its borrowing obligations.
“We assessed Syracuse’s enterprise profile as very strong, characterized by a solid management team, a history of stable to slightly growing enrollment and good retention,” the S&P report states. It further states, “We assessed Syracuse’s financial profile as strong, characterized by consistently positive operating surpluses on a full-accrual basis, low debt burden and solid available resource ratios as reflected in the cash and investments.”
A short-term obligation rated “A-1” is in the highest category of S&P Global Ratings and reflects a strong capacity for the obligated party to meet its financial commitment. The added plus sign (+), such as that assigned to Syracuse University, indicates that the University’s capacity to meet its financial commitments is extremely strong.
“I am pleased that the University has earned Standard and Poor’s highest credit rating for its short-term notes program,” says Amir Rahnamay-Azar, senior vice president and chief financial officer for Syracuse University. “It is a clear indicator of the University’s solid financial health as well as its overall stability within the higher education marketplace.”
The report also reaffirmed the University’s previously assigned AA- long-term credit rating based on its strong operating performance and cash and investment ratios.
S&P Global Ratings is the world’s leading provider of credit ratings on government, corporate, financial sector, and structured finance entities and securities. Its ratings serve as a tool for potential investors to assess risk and gauge an entity’s creditworthiness.