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This version of NSU News has been archived as of February 28, 2019. To search through archived articles, visit nova.edu/search. To access the new version of NSU News, visit news.nova.edu.
This version of SharkBytes has been archived as of February 28, 2019. To search through archived articles, visit nova.edu/search. To access the new version of SharkBytes, visit sharkbytes.nova.edu.
Moody’s Assigns Baa1 Rating to Nova Southeastern University – Outlook Stable
FOR IMMEDIATE RELEASE
FORT LAUDERDALE/DAVIE, Fla. – Moody’s Investors Service has assigned a Baa1 rating to Nova Southeastern University’s (NSU) proposed $90 million of fixed-rate, tax-exempt Revenue Refunding Bonds. These bonds will be issued through the Higher Education Facilities Financing Authority of the State of Florida. In addition, Moody’s affirmed the Baa1 ratings on outstanding rated debt.
“Fiscal responsiblity is something we take seriously, and we’re pleased Moody’s has reaffirmed their rating of us,” said NSU President Dr. George Hanbury. “We continue to work hard to keep NSU fiscally strong, and our Vision 2020 goals have provided the direction and foundation for us all.”
This Baa1 rating takes into account NSU’s standing as a large, comprehensive university that is located in a “demographically vibrant state,” as well as its flexible expense structure and a track record of strong, positive operating performance. Moody’s said NSU’s stable outlook is based on the expectation that the university will “continue to maintain healthy student demand across its diversified programs, and generate positive operating cash flows that will steadily build financial resource cushion relative to debt and operations.”
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About Nova Southeastern University (NSU): Located in beautiful Fort Lauderdale, Florida, Nova Southeastern University (NSU) is a dynamic research institution dedicated to providing high-quality educational programs at the undergraduate, graduate, and first-professional degree levels. A private, not-for-profit institution with more than 26,000 students, NSU has campuses in Fort Lauderdale, Fort Myers, Jacksonville, Miami, Miramar, Orlando, Palm Beach, and Tampa, Florida, as well as San Juan, Puerto Rico, while maintaining a presence online globally. For more than 50 years, NSU has been awarding degrees in a wide range of fields, while fostering groundbreaking research and an impactful commitment to community. Classified as a research university with “high research activity” by the Carnegie Foundation for the Advancement of Teaching, NSU is 1 of only 37 universities nationwide to also be awarded Carnegie’s Community Engagement Classification, and is also the largest private, not-for-profit institution in the United States that meets the U.S. Department of Education’s criteria as a Hispanic-serving Institution. Please visit www.nova.edu for more information about NSU and realizingpotential.nova.edu for more information on the largest fundraising campaign in NSU history.
March 28, 2016
Joe Donzelli | Office of Public Affairs
954-262-2159 (office) | 954-661-4571 (cell)
jdonzelli@nova.edu | www.nova.edu