Debt and Bonding
Peer Bonding Ratings
School |
FY 2017 |
---|---|
Northern Arizona University | A1/A+ |
Bowling Green State University | A1/A+ |
George Mason University | A1 |
Georgia State University | Aa3 |
Kent State University-Kent | Aa3/A+ |
Northern Illinois University | Ba2 |
Ohio University | Aa3/A+ |
Old Dominion University | A+ |
Southern Illinois University | Ba2/BB |
University of Akron | A1/AA |
University of Alabama | Aa2/AA |
University of Maine | AA- |
University of Nevada-Las Vegas | Aa2 |
University of North Carolina-Greensboro | Aa3 |
Western Michigan University | A1/A |
Wichita State University | Aa3 |
Ratings
Description |
Moody’s |
S&P |
---|---|---|
Highest Quality | Aaa | AAA |
High Quality | Aa1 | AA+ |
A1/A+ | AA | |
Aa3 | AA- | |
Upper Medium Grade | A1 | A+ |
A2 | A | |
A3 | A- |
We assessed NAU’s enterprise profile as very strong characterized by growing enrollment, increased applications, offset by weaker selectivity and matriculation compared with those of peers. We assessed NAU’s financial profile as strong with fair financial resources relative to operations although slightly offset by negative operating margins. The system’s debt burden is high, although it is cushioned to some degree by state support for slightly more than 26% of total debt. We believe that, combined, these credit factors lead to an indicative stand-alone credit profile of ‘a+’ and a final rating of ‘A+’.
— Standard and Poor’s, July 25, 2018
Source: NAU