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Nova Southeastern University
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NSU Bonds Upgraded by Moody’s to Baa1 from Baa2

NSU recently 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, “the 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