Rhodes College has received good news regarding its bond ratings. Moody’s Investors Service recently announced its assignment of an A1 rating to the college’s proposed approximately $33 million Educational Facilities Revenue Refunding Bonds Series 2017, to be issued through The Health, Educational and Housing Facility Board of the County of Shelby, Tennessee. The bonds will have a final maturity in 2040. The college’s fiscal outlook also is stable, according to Moody’s, which is a leading provider of credit ratings, research, and risk analysis.
“I am very pleased the ratings agencies recognized the financial strength of Rhodes,” says President Marjorie Hass. “We will continue to build on that foundation of strength as we plan for the future.”
Moody’s cited a number of factors that contributed to the rating: “The A1 rating incorporates the college’s very good strategic positioning reflected by prudent financial management resulting in consistently healthy operating cash flow. Steady donor support enhances already strong financial reserves. The rating also incorporates projections for stable enrollment as the college continues to leverage its market position as a Southern liberal arts school in an urban setting.” Rhodes also has an A+ rating from another top credit ratings firm—Standard and Poor’s (S&P).
“Our strong bond rating is reflective of the culture of fiscal discipline instilled by our Board of Trustees and carried out effectively by President Troutt and continued by President Hass. We are pleased that the rating has affirmed our financial health and stability,” says Kyle Webb, vice president for finance and business affairs.