Hamilton, NY — Moody’s Investor Service has upgraded Colgate University’s credit rating from A1 to Aa3, underscoring the college’s underlying financial strength and successful management. The new rating may improve Colgate’s potential to borrow funds at advantageous interest rates.
In announcing the upgrade, Moody’s cited Colgate’s
Improving student demand and stable enrollments;
Significant and growing financial resources, with positive investment returns despite recent stock market declines;
Consistently positive annual operating performance and growing revenue base; and
Manageable borrowing plans relative to financial resources.
The new rating is likely to remain stable, Moody’s said, because Colgate can expect continued strong demand among prospective students, growth in financial resources relative to debt and continued attention to efficient financial management.
Colgate University, founded in 1819, is a highly selective, independent, liberal arts college with more than 250 faculty members and approximately 2,750 undergraduate men and women enrolled in programs that lead to the Bachelor of Arts. The university’s general education core curriculum embodies Colgate’s longstanding commitment to integrated learning. Students currently enrolled at Colgate hail from 44 different states, three U.S. territories and 26 countries.
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April 30, 2002