Illinois State University has received further good news regarding its credit profile.
S&P Global Ratings has affirmed the University’s already solid A- rating category on bonds issued for the University by the Board of Trustees, but changed the outlook from “stable” to “positive” based on the University’s strong enrollment and financial health.
“That is great news for our current debt investors as well as future lenders, either direct placements with banks or the public bond market,” said Vice President for Finance and Planning Dan Stephens. “This will help Illinois State to continue to attract lenders who can offer low interest rates, given external financial conditions.”
According to the recent S&P Global Ratings report for Illinois State: “The positive outlook reflects ISU’s ability to consistently generate full accrual surpluses despite the pressures of the pandemic and even state funding challenges prior to that, as well as its growth in financial resources, which we expect to continue. We anticipate that state operating appropriation funds will remain stable and continue to be disbursed in a timely manner during the outlook period.”