Moody's Upgrades Sacred Heart University to A3 Rating
|SHU facility upgrades include, from left, Toussaint Hall, the Center for Healthcare Education and JP's Diner.|
Moody’s Investors Service has upgraded Sacred Heart University’s rating to A3 from Baa1, with a stable outlook. The upgrade acknowledges the University’s very strong financial performance, according to Moody’s. “This performance has been primarily driven by the University’s strong student demand, translating into robust enrollment and tuition revenue growth,” as well as program diversity the report stated. The report also noted that “the University has undergone significant capital investment that has modernized the campus facilities and markedly improved campus appeal.”
Sacred Heart University is currently experiencing a period of growth in its facilities and programs as well as its student population.
“We are very pleased that Moody’s has recognized the value of our investments in new, modern facilities and our expansion of programs to meet the needs and interests of today’s students,” said SHU president John J. Petillo.
SHU’s recent facilities expansion includes the purchase of GE’s former worldwide headquarters in Fairfield, which will become an innovation campus for the University; the fall-semester opening of its state-of-the-art Center for Healthcare Education on Park Avenue, Bridgeport; the planned opening of a diner on campus in October with extended hours for students; and the planned opening of Toussaint (residence) Hall, which follows the opening of Bergoglio Hall in fall of 2016. Also currently under construction at the University are a new headquarters for WSHU radio and SHU’s Public Safety Department and a new student sports center.
This fall, SHU will welcome the largest freshman class in University history while becoming increasingly more selective over the past five years, making it one of the most selective Catholic institutions in New England. As many other private colleges in the Northeast continue to see declining enrollments, SHU is demonstrating why the Chronicle of Higher Education recently named it one of the top 10 fastest-growing Catholic universities in the country.
In December, Standard & Poor’s raised Sacred Heart University’s long-term rating to A from BBB+. Only three other private colleges in Connecticut (Yale, Wesleyan and Trinity) have an A rating or higher from Standard & Poor’s.