FOR IMMEDIATE RELEASE
Friday, October 04, 2013
Contact: Matt Turner, Chief of Staff 304-696-6713
Marshall’s bond rating of ‘AA-’ affirmed by Fitch Ratings
HUNTINGTON, W.Va. – More than $86 million in Marshall University revenue bonds have had their ‘AA-’ ratings affirmed by Fitch Ratings, university officials announced today.
In the affirmation document, Fitch said that the rating reflects “historically stable student enrollment and demand for auxiliary facilities.” It also said that it expects Marshall to manage effectively through any cuts in state operating appropriations.
“This is yet another indication that Marshall has been fiscally responsible and managed its money well,” said Marshall President Dr. Stephen J. Kopp. “We thank the members of our Board of Governors, both past and present, for their direction and expertise.” The support of the university’s faculty and staff is also important, he said, in keeping the university on solid ground.
The affirmation specifically made reference to $51.9 million in university revenue bonds, series 2011; and $34.8 million in university refunding revenue bonds, series 2010.
Fitch Ratings is part of the Fitch Group, a global organization specializing in financial information services, with operations in more than 30 countries. It is located online at www.fitchratings.com.