August 22, 2023
°Ä6ͼ¿â’S credit rating affirmed by Standard & Poor’s
Major orchestras aren’t the only ones acknowledging the °Ä6ͼ¿â Advantage. A major credit rating agency also sees enduring strength in the institution.
Late last month, °Ä6ͼ¿â received an affirmation from the Standard & Poor’s Global Ratings Agency of its BBB- credit rating and earned a “stable†outlook. The rating is a favorable mark that characterizes °Ä6ͼ¿â as an “investment-grade†entity.
More specifically, the two marks represent a positive evaluation of °Ä6ͼ¿â through the lens of bonds and other debt securities which bank regulators and market participants view as potential investments for financial institutions. New York-based Standard & Poor’s is one of the nation’s largest credit rating agencies and a leader in financial research.
“This rating and outlook affirmation is a tremendous encouragement to the °Ä6ͼ¿â community and donors who commit themselves so selflessly and generously to °Ä6ͼ¿â‘s future,†said Paul W. Hogle, °Ä6ͼ¿â’s President and CEO.
“It is a clear indication that what has made °Ä6ͼ¿â a destination in the music world for more than a century also makes it an attractive philanthropic and commercial investment.â€
While praising the school’s disciplined approach to setting and achieving strategic goals, the Standard & Poor’s affirmation released July 26 points to °Ä6ͼ¿â’s student body, saying the BBB- rating stems from “healthy student characteristics such as retention and matriculation rates that are stronger than similarly rated peers.â€
In addition, the agency endorsed °Ä6ͼ¿â’s leadership, citing a “proactive and experienced management team, with expertise within the music education industry.â€
“S&P’s affirmation of our rating speaks to °Ä6ͼ¿â’s commitment to be financially sound and forward-looking,†said Brian Foss, °Ä6ͼ¿â’s Chief Financial Officer.