Fitch’s affirmation specifically made reference to $50.7 million in university revenue bonds, series 2011; and $28.8 million in university refunding revenue bonds, series 2010.
In the affirmation document, Fitch said the rating reflects the university’s “very strong financial profile.”
The document cited Marshall’s fundraising and research grant revenue, as well as the university’s “robust available funds” and “financial flexibility,” saying that new student recruitment and academic program development efforts underway should help stabilize, or even grow, enrollment.
A solid bond rating makes debt issued by Marshall more attractive to investors.
President Jerome A. Gilbert said the ratings confirm the university’s fiscal stability and reaffirm the focus on increasing enrollment and improving retention.
“Fitch’s bond rating is a clear endorsement of Marshall’s robust financial position and careful stewardship of our funds,” he said. “I appreciate the Board of Governors for their leadership and expertise in these matters, and commend the entire university community for helping ensure our ongoing fiscal health so that we can continue to grow and serve our students.”