CSU Bond Rating Upgraded
July 3, 2013
The California State University’s bond rating was upgraded to AA- by Standard & Poor’s Ratings Services, as the agency raised its long term rating and underlying rating on the university’s systemwide revenue bonds. Standard & Poor’s credit ratings express the agency’s opinion about the ability and willingness of an issuer, such as a corporation or state or city government, to meet its financial obligations in full — and on time.
According to the Standard & Poor’s report published on July 2, “the upgrade reflects the historical improvement in operating performance, primarily due to CSU’s strong management team, which has good fiscal planning and policies in place.”
Additionally, Standard & Poor’s provided a stable outlook for CSU citing several factors, including the university’s role as the largest system of senior higher education in the country, continued enrollment demand, and the university’s risk, debt and cash management policies that help manage the allocation of financial capital across the system.
About the California State University
The California State University is the largest system of senior higher education in the country, with 23 campuses, approximately 427,000 students and 44,000 faculty and staff. The CSU awards more than 95,000 degrees annually and since its creation in 1961, has conferred nearly 2.6 million degrees. The CSU is renowned for the quality of its teaching and for the job-ready graduates it produces. The mission of the CSU is to provide high-quality, affordable education to meet the ever changing needs of the people of California. With its commitment to excellence, diversity and innovation, the CSU is the university system that is working for California. Connect with and learn more about the CSU at CSU Social Media. Show how the CSU matters to you and take action.