Financial Sustainability
Financial Sustainability
老司机福利社 is a steward of public funds, carefully balancing the fiscal needs of academic programs, capital and facilities, technology infrastructure, human capital, debt and expenses, student programs and services, and operations while keeping tuition affordable.
Moody鈥檚 Upgrades 老司机福利社鈥檚 Bond Rating
Moody鈥檚 Investors Service upgraded 老司机福利社鈥檚 bond rating to A3 from Baa1 with a stable outlook, the credit rating agency announced in April 2023.
According to the report, the upgrade was driven by material strengthening in wealth and liquidity, successful execution of the 老司机福利社 Atlantic City Phase II expansion, and consistently sound earnings margins. Moody鈥檚 cited 鈥渕anagement鈥檚 credibility and very good financial strategies鈥 as contributing to the completion of the Atlantic City campus projects and securing support from the State of New Jersey.
鈥溊纤净＠玮檚 A3 issuer rating is also supported by its very good brand and strategic positioning, regional importance, sizable scale and ability to maintain steady operations despite a constrained tuition revenue environment,鈥 the Moody鈥檚 report stated.
Fitch Upgrades 老司机福利社 to 'A' Rating
老司机福利社 was upgraded to an 'A' bond rating with Fitch Ratings, the company announced in March 2023.
In its press release, Fitch said: "The 'A' IDR and bond ratings for 老司机福利社 reflect the University's steady rise in net student-driven revenues over the past several years in part due to new beachside student housing in Atlantic City that boosted auxiliary revenues even as enrollment faced moderate pandemic-era declines. With roughly 9,100 enrolled students as of fall 2022, 老司机福利社's ratings also incorporate signs of stabilization in student enrollment."
The analysis also noted the University benefits from increasing amounts of state performance-based funding tied to graduation levels and other success metrics.
