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S&P Joins Moody's in Upgrading Iona's Rating

11/17/2014
New Rochelle, NY (November 17, 2014) For the second time in 2014, the Iona College credit rating has improved. Earlier this year, Iona College was one of nine colleges and universities in the United States to receive a credit upgrade by Moody’s.  This morning, Standard and Poor’s (S&P) announced that the rating agency has also improved Iona’s credit outlook to stable. While expressing caution regarding the sector and various risks, the rating agency indicated, “Standard & Poor’s believes the senior management team has stabilized and successfully addressed these operational issues through implemented policies to strengthen governance, increased transparency in reporting methodologies, and proactively managed transitional risks.”

“The higher education sector is under immense pressure,” said Iona College President Joseph E. Nyre, Ph.D. “Iona is blessed with a very dedicated faculty and staff who have worked tirelessly to execute strategy and lead the College. The positive results noted by both Moody’s and S&P are a reflection of the effort of the entire Iona College community.”

The College thanks the Board of Trustees, faculty and staff, and alumni who have worked collectively to generate positive results including:

• Development and execution of a shared strategic plan;
• Curbing tuition increases, offering additional scholarship support to students, and controlling costs;
• Generating continued operating surpluses;
• Substantially growing the endowment;
• Expanding national and international student recruitment efforts;
• Increasing on-campus student housing;
• Adding market driven graduate programs;
• Surpassing its budgeted enrollment targets;
• Achieving a low cohort default rate below national average;
• Strategically controlling discounting and working to decrease net attendance costs;
• Targeted land acquisitions in support of the campus master plan; and
• Improved financial resource ratios.


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