August 22, 2023
ÙS credit rating affirmed by Standard & Poor
Major orchestras arent the only ones acknowledging the Advantage. A major credit rating agency also sees enduring strength in the institution.
Late last month, received an affirmation from the Standard & Poor Global Ratings Agency of its BBB- credit rating and earned a stable outlook. The rating is a favorable mark that characterizes as an investment-grade entity.
More specifically, the two marks represent a positive evaluation of through the lens of bonds and other debt securities which bank regulators and market participants view as potential investments for financial institutions. New York-based Standard & Poor is one of the nation largest credit rating agencies and a leader in financial research.
This rating and outlook affirmation is a tremendous encouragement to the community and donors who commit themselves so selflessly and generously to Øs future, said Paul W. Hogle, President and CEO.
It is a clear indication that what has made a destination in the music world for more than a century also makes it an attractive philanthropic and commercial investment.
While praising the school disciplined approach to setting and achieving strategic goals, the Standard & Poor affirmation released July 26 points to student body, saying the BBB- rating stems from healthy student characteristics such as retention and matriculation rates that are stronger than similarly rated peers.
In addition, the agency endorsed leadership, citing a proactive and experienced management team, with expertise within the music education industry.
S&P affirmation of our rating speaks to commitment to be financially sound and forward-looking, said Brian Foss, Chief Financial Officer.