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Bond
rating upgraded
Moody's
Investors Service has upgraded the University's credit rating
to Aaa, the highest possible rating. U.Va. joins Texas and Michigan
as the only public schools at that level, President John T. Casteen
III told the Board of Visitors Oct. 5.
The
upgrade is based on the University's:
•
superior balance sheet position, with over $2.5 billion in its
endowment and related foundations, and only $323 million of total
debt outstanding; •
excellent student demand for undergraduate and graduate programs,
attracting a geographically diverse and academically strong applicant
pool;
•
manageable plans for additional borrowing;
•
improved operations at the academic medical center, and strong
overall University operating performance from a diverse revenue
base.
See
Board
approves new agreement with state.
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