Ivy Tech Community College has received a second bond rating of “AA+ stable,” as affirmed by Fitch Ratings.
Last week, S&P also affirmed Ivy Tech’s rating of “AA+ stable” in a separate report.
“Ivy Tech’s strong financial position allows the College to continue best serving our students and communities with an affordable and accessible education,” said Marty Pollio, Ivy Tech President.
This second affirmation of Ivy Tech’s ‘AA+ stable’ rating is a further testament to the College’s healthy financial status.
– William Bogard, Interim Senior Vice President & Chief Financial Officer
According to Fitch, the rating reflects the College’s budgetary balance, supporting growth in reserves and available funds, along with Ivy Tech’s “resilient enrollment, strong cash flow margins, and very favorable debt leverage ratios,” the report said.
The report notes the importance of the Indiana General Assembly’s financial support of the College and fundraising efforts of the Ivy Tech Foundation. The report describes Ivy Tech’s financial profile as “strong and resilient.”
There are three primary bond rating agencies – Fitch, Moody’s, and S&P Global. Ivy Tech has historically worked with Fitch and S&P to evaluate its ability to meet its debt obligations as itrelates to capital. These agencies monitor financial conditions in an ongoing way and conduct a thorough annual review.
About Ivy Tech Community College
Ivy Tech Community College is Indiana's largest public postsecondary institution and the nation's largest singly accredited statewide community college system, accredited by the Higher Learning Commission. Ivy Tech has campuses throughout Indiana and also serves thousands of students annually online. It serves as the state's engine of workforce development, offering associate degrees, long- and short-term certificate programs, industry certifications, and training that aligns with the needs of the community. The College provides a seamless transfer to other colleges and universities in Indiana, as well as out of state, for a more affordable route to a bachelor's degree.
