Moody's Affirms Muhlenberg College’s A1 Long Term Rating; Outlook Is Stable
Moody’s Investors Service has affirmed Muhlenberg College’s A1 long-term rating. The College has now maintained this solid status since January of 2002.Monday, February 21, 2005 09:52 AM
Moody’s Investors Service has affirmed Muhlenberg College’s A1 long-term rating. The College has now maintained this solid status since January of 2002.
“Muhlenberg College is vigilant about its finances,” said Kent Dyer, the College's Chief Business Officer. “We are pleased to receive this recognition from a respected third party.”
According to Moody’s, the outlooks for the A1 rating remains stable. This rating is based on the agency’s expectation of manageable debt levels, continued strong operating performance leading to comfortable debt service coverage, and stable enrollment in the context of strengthening student demand. The rating applies to $24.9 million on outstanding Series 1997 and Series 2001 Revenue Bonds; the former were issued through the Lehigh County General Purpose Authority and the latter were issued through the Pennsylvania Higher Educational Facilities Authority.
The College possesses numerous strengths that were recognized by Moody’s, including the excellent operating performance with a three year average margin of 11.9%, a balance sheet cushion with expendable financial resources covering debt 3.7 times, manageable capital and borrowing plans including roughly $28 million of additional debt anticipated this year and a solid fundraising track record with over $7 million in gifts per year in recent past.
For more information, contact
Jillian Lowery 484-664-3235
