Moody’s Removes Negative Outlook from Carl Sandburg College Bond Rating

  Aaron Frey
  Wednesday, February 7, 2018 11:59 AM
  Campus News

Galesburg, IL

Moody’s Investors Service has removed from Carl Sandburg College’s bond rating the negative outlook that was issued to the College during its last bond rating call in 2016, in the midst of the state’s budget impasse.

Sandburg’s Aa3 rating — meaning the College’s credit is considered high quality and low risk — reflects its large and stable tax base, low debt burden and sound reserves with alternate liquidity available as well as the ability to issue working cash bonds for liquidity if necessary. Sandburg also received an Aa3 rating in 2016.

The latest rating from Moody’s also noted the College’s healthy financial position despite delays in state aid distributions in recent years. The removal of the negative outlook is significant and displays the College’s dedication to remaining financially strong despite the fiscal challenges it has faced in recent years.

“I am very pleased that Moody’s has removed the negative outlook from our rating. When a college is financially sound like Sandburg, it shouldn’t be penalized for the actions of the state,” Sandburg President Dr. Lori Sundberg said. “Our college is in a financially strong position, and it was able to weather the state’s financial crisis and come through the other side stronger. I’m very proud that a small college such as ours was able to manage such a significant financial challenge without causing a disruption to our students.”

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Aaron Frey