Standard & Poor’s Upgrades Duquesne University’s Credit Rating to ‘A’
Standard & Poor's Ratings Services announced that it has revised its credit rating of Duquesne University to "A" from its previous rating of "A-." The rating increase is based on the most recent Standard & Poor's Not-for-Profit Public and Private Colleges and Universities methodology. This is the University's best ever rating from Standard & Poor's.
According to Standard & Poor's, Duquesne University's upgraded 'A' rating assessment reflects:
- Healthy operating surpluses for each of the past five years
- Stable enrollment at the undergraduate level
- Stable selectivity and matriculation metrics with an above-average student quality
- Moderate maximum annual debt service burden of 3.9 percent of fiscal 2015 operating expenses.
"We assessed Duquesne's enterprise profile as strong characterized by historically stable enrollment (and) above average student and faculty quality. We also assessed Duquesne's financial profile as strong, with solid operating performance, growing net tuition revenues, improved financial resources and below average debt burden," said Luke Gildner, of Standard & Poor's. "Combined, we believe these credit factors lead to an indicative standalone credit profile of 'a' and issue rating of 'A.'"
Duquesne was recently ranked at No. 43 by U.S. News and World Report as a Best Value School among national universities. In addition, the University was the only Pennsylvania school and was ranked No. 18 nationally among the most efficiently operated schools by U.S. News for 2015.
"This upgrade is the result of a comprehensive campus-wide effort, including strategic stewardship by the finance area, enrollment management, fundraising and marketing, and throughout our academic areas," said Duquesne President Charles J. Dougherty. "Their work and dedication continue to make Duquesne University an excellent investment for our students in a very competitive marketplace."
Founded in 1878, Duquesne is consistently ranked among the nation's top Catholic universities for its award-winning faculty and tradition of academic excellence. Duquesne, a campus of nearly 10,000 graduate and undergraduate students, has been nationally recognized for its academic programs, community service and commitment to sustainability. Follow Duquesne University on Facebook, Twitter and Instagram.