Moody’s Investors Service, a leading global provider of credit ratings, research, and risk analysis, has raised the outlook on St. Mary’s College of Maryland to stable, with an A2 rating.
According to a Moody’s press release announcing the credit rating, the College’s “management credibility was a key driver of the revision of the outlook to stable, reflecting prudent fiscal management and actions to execute key strategic plans. The revision also reflects expectations that operating cash flow margins will return to levels achieved prior to the coronavirus pandemic with careful expense management and strong support from the state combined with federal relief funding.”
The press release further states, the College’s A2 rating “reflects some stabilization of enrollment, despite the effects of the coronavirus pandemic, and reflects the College’s excellent operating environment with solid financial support by the State of Maryland and the College’s unique role as Maryland’s only stand-alone public honors college.”
Paul Pusecker III, the College’s CFO, commented that “we appreciate Moody’s thorough analysis of our financial posture, citing the strong support from the State, our efforts to stabilize enrollment, and the excellent governance relationship between the Board of Trustees and the institution. We are thrilled with this ratings upgrade.”
