Fitch Ratings Affirms Delaware Valley University's Revenue Bonds
The University received an investment grade rating of BBB- with a stable outlook from Fitch Ratings
Delaware Valley University (DelVal) announced today that its revenue bonds have been affirmed for an investment grade rating of BBB- with a stable outlook from Fitch Ratings, one of the nation's "Big 3" credit ratings agencies.
The ratings reflect enhanced enrollment management and financial practices of DelVal's management team, a rebound in entering freshmen, the launch of new health science programs and non-recurring pandemic aid. The ratings also consider the University's unique combination of experiential learning programs in niche agricultural and biological sciences within a private university setting. The Stable Outlook reveals Fitch's expectation that DelVal's projected revenue growth from both student and other sources, combined with expense controls and no additional debt plans, will provide operating cushion and a stable leverage position going forward.
"The rating is an endorsement of DelVal's commitment to fiscal discipline and strengthening the University's finances while improving our competitiveness," said DelVal's vice president for Finance and Administration, Curtis (Curt) Topper. "It follows a lot of hard work from all segments of the DelVal community and is a clear sign that we continue to position the University for future growth."
"I want to take this opportunity to publicly thank all those in our community who have participated in committing to DelVal's future - including our dedicated faculty and staff as well as our leadership team and the Board of Trustees," said Topper.
"Together, we are building a bright future for DelVal."