S&P Global Ratings Raises Bond Rating from AA to AA+
S&P Global Ratings yesterday raised its long-term and underlying (SPUR) ratings on the Florida Board of Governor’s (BOG) university system improvement revenue bonds issued for the Florida State University System to ‘AA+’ from ‘AA.’
“This rating upgrade is great news for Florida’s state university system, current and incoming students and state economy as a whole,” said Governor DeSantis. “Yesterday’s announcement, paired with our top-rated higher education system, makes it clear that there is no better state in the nation to receive a world class education and I’m happy our universities are receiving the recognition they deserve. I look forward to celebrating continued success as we build on this positive momentum.”
“This rating recognizes that our System is financially sound, our enrollment trends are healthy, and Florida’s economic outlook is strong,” said BOG Chair Ned Lautenbach. “At a time when the State University System is achieving unprecedented success and national recognition, this rating is further affirmation that we’re moving in the right direction.”
The rating upgrade reflects the state university system’s solid market position and demand, improving acceptance rate, diverse programs, affordable tuition rates versus national peers, good regional state economic conditions and favorable high school demographic trends.
Additionally, it reflects the healthy operating support from a ‘AAA’ rated state, evidencing the Florida’s continued support of public higher education. In July, S&P Global Ratings reaffirmed Florida’s ‘AAA’ credit rating.