Contributed on behalf of Gerald Hector, Vice President for Finance and Administration
It is with a great sense of pride and excitement that I report to the campus community that we have just completed a review with Moody's credit rating agency. Ithaca College was reaffirmed with an A2 credit rating coupled with a stable outlook. According to Moody’s Investors Service, this rating “is supported by the college’s dedicated fiscal discipline.” It is noteworthy to mention that the private higher education sector currently has a negative outlook in general with several institutions receiving downgrades, with negative outlooks.
This rating is the culmination of a process that included interviews and reviews conducted by Moody’s analysts during the fall semester. Ithaca College was recognized for its changing landscape in higher education and the bold steps we are taking to maintain vibrant revenue streams through our enrollment strategies, the IC 20/20 plan and the effectiveness and affordability initiatives.
This rating signifies to creditors, donors, and potential students that we are healthy, stable, and strong. Additionally, this rating highlights that we are on the right track in utilizing our fiscally prudent measures to address future uncertainties in a strategic and purposeful manner.
We should celebrate this achievement with an eye towards the work that is ahead. We know that our prudent planning around IC 20/20, our enrollment strategies and the affordability and effectiveness initiatives will allow us to maintain this vital rating.