Fairfield University announced last week that its credit rating from Standard & Poor’s was upgraded to an ‘A’ from an ‘A-’.
The upgrade is a result of improved credit characteristics and reflects the agency’s assessment that Fairfield “demonstrated an impressive trend of growth and improvement in recent years, and the University’s proven ability to manage operating adversity and budget effectively, leading to consistent full-accrual operating surpluses.”
Various considerations were made during the assessment, such as a growth in enrollment, improved student metrics, and good financial leadership. Other factors include a strong donor base and conservative budgeting.
Fairfield continues to expand its programs, now offering a doctoral program in the School of Nursing and School of Business. The school also recently partnered with a medical school in Texas to offer an accelerated nursing degree program.
Contact Matt Verrilli at mverrilli@newhavenbiz.com
