Moody’s Investment Services has again issued Elizabeth City State University a “stable” credit rating, citing the university’s continuing enrollment growth and its expected growth again this fall.
The bond rating agency recently issued ECSU a Baa2 credit rating on the university’s general revenue bonds, affirming the rating it issued those bonds last year.
Moody’s report on ECSU cited the university’s increasing state revenues, particularly through participation in the NC Promise tuition-reduction program, and ECSU’s 28-percent increase in student enrollment since fall 2017. The bond rating agency also said its stable rating “incorporates expectations for increasing student demand, including enrollment growth for fall 2020.”
ECSU Vice Chancellor for Business and Finance Lisa McClinton said Moody’s latest bond rating indicates the university’s “solid” standing in the financial world, according to an ECSU press release.
“The affirmation of the Baa2 rating provided by Moody’s, during these challenging times, confirms that the university continues to make key improvements within finance operations in order to strengthen the university’s long-term financial stability and growth,” McClinton said.
Chancellor Karrie Dixon also welcomed Moody’s latest credit rating of the university
“We are very pleased with our continued stable rating,” she said. “However, we will continue to focus on growth at the university.”
Moody’s Investors Service is the bond credit rating business of the Moody’s Corporation. It provides international financial research on bonds issued by entities.