Two key financial rating services have given West Virginia University high bond ratings, citing philanthropic support, diverse revenues, diverse programs, stable enrollment and state support.
Standard and Poor’s gave the University’s 2013 taxable and tax-exempt bonds an “A+” long-term rating that reflected the agency’s analysis of WVU’s diverse academic programs, enrollment stability and continuous support from the state.
Standard and Poor’s, which gives WVU a “stable outlook” also remarked on other positive credit factors, such as the University’s flagship status, manageable debt burden and a “growing independent foundation.”
Moody’s affirmed the Aa3 ratings that have been with WVU in previous ratings, and also called the University’s outlook stable.
Moody’s ratings pointed to WVU’s strengths as a comprehensive land-grand university with a $906 million revenue base in fiscal year 2012. The rationale for the rating included the University’s role in the state, philanthropic support, its “diverse revenues supporting balanced operating performances, increasing cash and investments,” and a manageable debt burden.
“As West Virginia University enters 10 years of construction projects that are expected to cost more than $320 million, this latest bond rating attests to WVU’s strong financial position and is a positive statement on our future,” said Vice President for Administration and Finance Narvel Weese.
WVU is currently financing its 10-year campus master plan that will renew the Evansdale campus in core programs such as engineering, agriculture and the arts, as well as improve student health services facilities. To keep up to date on the construction at WVU, go to: http://construction.wvu.edu/.
