FORT LAUDERDALE, Fla. – Nova Southeastern University (NSU) announced that Moody’s Investors Service has upgraded the long-term rating of the university’s bonds to Baa1 from Baa2 with a positive outlook. According to the announcement made by Moody’s on July 16, 2013, “[t]he rating upgrade is driven by the university’s consistently positive operating performance and, reduced liquidity risk due to debt structure modifications.”
This upgrade by the investment community attests to the continuation and strength of NSU’s management and the university’s future. The new rating comes in anticipation of the development of NSU’s Center for Collaborative Research (CCR) , a 215,000 square foot, $75 million research center scheduled to begin construction in 2014. The CCR will significantly expand the university’s research capabilities and further its economic impact in the state
“We are extremely pleased to receive Moody’s vote of confidence in NSU’s fiscal strength,” said George L. Hanbury II, Ph.D., president and CEO of Nova Southeastern University. “The upgrade by Moody’s is a testament to NSU’s fiscal policies and our ability to respond and adapt to economic challenges and the evolving higher education environment. NSU’s demonstrated ability to efficiently and responsibly sustain and support the university’s growth, along with the strategic importance of the Center for Collaborative Research (CCR) will move us closer to fulfilling our Vision 2020.”
Read the Moody’s announcement here: http://www.moodys.com/research/Moodys-upgrades-Nova-Southeastern-Universitys-FL-bonds-to-Baa1-outlook–PR_277933
For more information, visit: www.nova.edu
About Nova Southeastern University
Situated on 300 beautiful acres in Ft. Lauderdale, Florida, Nova Southeastern University (NSU) is a dynamic fully accredited research institution dedicated to providing high-quality educational programs at all levels. NSU is a not-for-profit independent institution with 27,000 students. NSU awards associate’s, bachelor’s, master’s, specialist, doctoral and first-professional degrees in a wide range of fields. NSU is classified as a research university with “high research activity” by the Carnegie Foundation for the Advancement of Teaching, and it’s one of only 37 universities nationwide to also be awarded Carnegie’s Community Engagement Classification. For more information on NSU, visit: www.nova.edu