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Fitch Ratings, the nation’s leading credit rating agency, has upgraded Ivy Tech Community College’s rating from AA to AA+, the institution’s second-highest rating for low credit risk.
The ratings reflect the university’s strong operating track record over the years, strong cash flow margins, significant liquidity reserves and favorable debt-to-leverage ratio, the university said in a news release.
“Ivy Tech continues to focus on student success while strengthening its financial position, a signal across the university that investing in student success and strengthening its financial position are not mutually exclusive,” university president Sue Ellsperman said in a statement. “Our financial strength has allowed us to innovate, invest in our students, and keep tuition affordable while shifting the paradigm in higher education and rapidly adapting to Indiana’s workforce needs.”
The AA+ rating reflects very high credit quality, second only to AAA by Fitch Ratings, which is considered one of the three major credit rating agencies in the U.S. The other two are Moody’s and Standard & Poor’s.
Ivy Tech Community College is Indiana’s largest public institution of higher education, enrolling approximately 180,000 students at 45 locations. Accredited by the Higher Learning Commission, it is the largest state community college system in the nation.
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