Fitch Ratings-Chicago-20 July 2018: Both public and private U.S. colleges and universities demonstrated stable debt burdens and liquidity in fiscal 2017 in the face of growing operating pressures, according to a Fitch Ratings’ median report. Trends highlighted in the median report and the Fitch Analytical Comparative Tool (FACT) show level debt burdens and steady to improving liquidity against expenses in fiscal 2017.
Median operating results for both public and private universities were generally stable in fiscal year-end 2017 after declining in fiscal 2016 despite clear pressures on non-tuition revenue sources. These pressures include flatter state funding, continuous federal spending and budgetary pressure, and evidence of a constrained cash flow environment in healthcare. However, the credit fundamentals of the sector remain evident, as debt burden and coverage levels remained steady in fiscal 2017.
Fitch’s U.S. College and University FACT is an interactive, point-in-time comparative assessment of Fitch-rated U.S. colleges and universities. It allows market participants to compare key financial metrics for public and private higher education institution against the rated portfolio, rating category, regional peers, and over time.
Fitch’s published median report for U.S. private and public colleges and universities and FACT are available at www.fitchratings.com.
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