INDIANAPOLIS – Standard & Poor (S&P) affirmed its ‘AA’ long-term and underlying ratings (SPUR) on the Trustees of Ivy Tech Community College’s rated student fee bonds, with a stable outlook for all bonds.
“With a large statewide system and excellent leadership across Indiana, we are very pleased with our AA rating and outlook,” said Christopher Ruhl, senior vice president and chief financial officer, Ivy Tech Community College. “Our rating and outlook are driven by factors that include solid state support, history of strong financial performance, and good fundraising history. This is a reflection of the work of numerous teams across the College. We are appreciative that this report recognizes that these contributions are critical to a comprehensive approach to solid fiscal management of taxpayer funds and student fees.”
According to the Global Ratings report, “The rating reflects our view of Ivy Tech Community College’s (ITCC) credit strengths including its sound full-accrual operating margins, increased financial resource ratios, and robust state appropriations. It also reflects our view of ITCC’s enterprise profile strengths, including its position as the largest single-accreditation community college system in the U.S. and strong management team with good fiscal planning and policies in place.”
About Ivy Tech Community College
Ivy Tech Community College is the state’s largest public postsecondary institution and the nation’s largest singly accredited statewide community college system. 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.