Moody’s Investors Service has upgraded Illinois State University’s issuer and Auxiliary Facilities System (AFS) bond ratings to A3 from Baa1, and the Certificates of Participation (COPS) to A3 from Baa2.
“This is great news that provides continued assurance about the strength of Illinois State’s fiscal position,” said Vice President for Finance and Planning Dan Stephens, noting the upgrade is a positive sign to the University’s current debt investors and future lenders. “This rating upgrade will help us continue to attract lenders who can offer competitive interest rates.”
According to the Moody’s report, the University’s “sound financial strategy and risk management, along with management credibility and track record, remain important elements of our credit view.” The report, which concluded the outlook remains positive for Illinois State, noted the rating “reflects management’s ongoing ability to effectively steer the university through multiple periods of fiscal and operational disruption.”
The Moody’s announcement came on the heels of S&P Global affirming Illinois State’s strong credit rating with a positive outlook on bonds issued for the University by the Board of Trustees.
