BOWLING GREEN, Ky. (Oct. 3, 2017) – Western Kentucky University will continue to have an A2 underlying rating and stable outlook from Moody’s Investors Service.
Moody’s on Monday released its rating review update on the rated outstanding general receipts bonds of WKU. For WKU, this action is the conclusion of reviews for potential rating downgrades of eight Kentucky public universities and one foundation that was announced by Moody’s on July 21, 2017, following a downgrade of the Commonwealth of Kentucky’s issuer rating on July 20, 2017.
“We are very pleased that Moody’s Investors Service confirmed its A2 underlying rating and stable outlook for WKU’s outstanding general receipts bonds,” Senior Vice President for Finance & Administration Ann Mead said. “Moody’s Investors Service provides a credit rating that is valuable for bondholders. While the University has no plans for issuing any bonds, this rating does support relatively strong credit for an institution our size.”
The rating document cites “very good strategic positioning [that] acknowledges improved fiscal discipline and oversight to absorb near term state funding reductions from the Commonwealth of Kentucky,” indicating Moody’s recognition of the positive steps WKU has taken to plan for upcoming budget challenges.