Standard & Poor’s Rating Services Gives ‘Berg A+ Bond Rating
Standard & Poor's Rating Services has re-affirmed Muhlenberg College's A+ long-term bond rating. Standard and Poor's has rated the College A+ since April 2001.Tuesday, July 26, 2011 09:58 AM
The College has also maintained an A1 rating with Moody's since January of 2002.
These ratings apply to $20 million of new debt, Series 2009 College Revenue Bonds, issued through the Lehigh County General Purpose Authority, and also to the College's existing Series 2008 bond issue.
"Muhlenberg College has always been vigilant about its finances," said Kent Dyer, the College's Chief Business Officer. "We have balanced our budget for 56 consecutive years. This recognition from a highly respected third party validates our financial stability and strength."
The College used the $20 million 2009 bonds to renovate and expand its student union, including augmented student life offices and new kitchen, servery and dining facilities. Some of the bond funds were also used for the College's Rehearsal House and new office space for the sociology/anthropology department.
Founded in 1848, Muhlenberg College is a highly selective liberal arts college in Allentown, Pa. It is an independent, undergraduate, co-educational institution related to the Evangelical Lutheran Church in America.
