INDIANAPOLIS, Ind. – S&P Global announced it has affirmed Ivy Tech Community College’sbond rating as “AA+ stable,” signaling confidence in the college.
“Ivy Tech’s bond rating is a testament to the College’s commitment to being responsible stewards of every dollar received,” said Marty Pollio, Ivy Tech President. “Our strong financial position allows us to continue to best serve our students and communities by providing an affordable and accessible education.”
Affirming Ivy Tech’s ‘AA+ stable’ rating underscores the College’s history of healthy financial performance. We are committed to continued fiscal planning in order to meet the needs of the College and the state.
– William Bogard, Interim Senior Vice President & Chief Financial Officer
According to S&P, the rating reflects their “view of the college’s extremely strong enterprise risk profile and very strong financial risk profile.” In addition, the financial risk profile reflects the S&P’s “view of ITCC’s consistently positive operations, good financial resources, and manageable debt.”
The report gives credit to the Indiana General Assembly’s financial support of the College through operating dollars and support of debt service, along with the fundraising successes by the College and the Ivy Tech Foundation.
“ITCC's leadership team is sophisticated, experienced, and highly capable, providing a solid foundation of oversight guided by detailed strategic planning efforts,” the report states.
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.
