University of Florida financial planners say S&P upgrades result of careful money management.
The University of Florida (UF) is financially sound, as evidenced by its debt rating.
S&P Global Ratings has upgraded the school’s debt outlook to positive from stable.
“This good news from S&P emphasizes an important point that should make Gator Nation proud: the University of Florida is in a strong position to do great things,” said Mori Hosseini, UF Board of Trustees chair. “We are committed to excellence and careful stewardship of the tremendous investments that the state of Florida has made. We are grateful for the state of Florida’s continued support and dedication to working together. The future is bright.”
Meanwhile, the Florida Board of Governors’ outstanding student activity rating was improved to +AA by the S&P in terms of the long-term rating for outstanding student activity fee revenue bonds issued for UF. S&P revised the outlook to positive based on UF’s maintenance of its exceptional market position, track record of surplus operations over the past few years, and exceptional balance-sheet metrics, said S&P Global Ratings credit analyst Laura Kuffler-Macdonald.
S&P also affirmed UF’s AA rating on the BOG’s research revenue bonds and the ‘AA-‘ rating on the dormitory and parking facility revenue bonds outstanding.
“The University of Florida is on an incredible trajectory,” said Kent Fuchs, UF interim president. “As we continue this tremendous momentum, our entire university is committed to strong financial management for our students, faculty, and state.”
UF Senior Vice President and Chief Financial Officer Taylor Jantz said the high financial marks by S&P are no accident and are the result of careful financial stewardship at the university.
“We are executing the vision set by UF’s Board of Trustees and president, making careful and strategic investments that will best advance this university,” said Jantz.
A complete online report provides a detailed review of the S&P actions regarding the University of Florida.
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