Moody’s Investors Service recently affirmed the A3 long-term rating on Gustavus Adolphus College’s Revenue Bonds issued through the Minnesota Higher Education Facilities Authority.
The report detailed several financial strengths of the College which led to the favorable rating. Those included a stable market position, a favorable operating performance, and adequate coverage of debt by financial resources.
“This is great news and a sign of continued financial strength for the College,” President Jack R. Ohle said. “This continued recognition by Moody’s reflects the outstanding financial leadership of the Board of Trustees as well as the exceptional stewardship of resources by all members of the Gustavus campus community under the leadership of Vice President for Finance and Treasurer Ken Westphal.”
According to Moody’s website, an A rating means an institution’s financial obligations are considered upper-medium grade and subject to low credit risk.
Founded in 1909, Moody’s performs financial research and analysis on commercial and governmental entities and ranks the credit-worthiness of borrowers using a standardized ratings scale.
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