INDIANAPOLIS – Standard and Poor’s announced that it has affirmed an AA- long-term rating with a stable outlook for The Trustees of Ivy Tech Community College of Indiana.
The AA- long-term rating reflects Ivy Tech’s continued solid state support from Indiana, strong system-wide enrollment, a state-wide system with a network of 31 degree-granting campuses, a history of strong financial performance with operating surpluses on a full accrual basis, a good fundraising history and support of debt service on about 92 percent pro forma debt from state fee-replacement appropriations.
Offsetting credit factors noted by Standard & Poor’s are the low level of appropriations on a full-time equivalent student basis, adequate financial resource levels for the rating category, an above average pro forma debt service burden and a high proportion of Pell grant eligible students.
Ivy Tech Community College is the state’s largest public postsecondary institution and the nation’s largest singly accredited statewide community college system serving nearly 200,000 students annually. Ivy Tech has campuses throughout Indiana. It serves as the state’s engine of workforce development, offering affordable degree programs and training that are aligned with the needs of its community along with courses and programs that transfer to other colleges and universities in Indiana. It is accredited by the Higher Learning Commission and a member of the North Central Association.