{"id":106728,"date":"2021-05-18T12:27:30","date_gmt":"2021-05-18T16:27:30","guid":{"rendered":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/?p=106728"},"modified":"2024-01-04T15:03:23","modified_gmt":"2024-01-04T20:03:23","slug":"ddn-wright-state-receives-financial-ratings-upgrade","status":"publish","type":"post","link":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/2021\/05\/18\/ddn-wright-state-receives-financial-ratings-upgrade\/","title":{"rendered":"Dayton Daily News: Wright State receives financial ratings upgrade"},"content":{"rendered":"

Excerpt<\/strong><\/em><\/p>\n

\"\"Moody\u2019s Investors Service has upgraded Wright State University\u2019s credit rating and revised the institution\u2019s outlook from negative to stable, the school announced.<\/p>\n

Moody\u2019s Investment Service, which provides international financial research on bonds issued by commercial and government entities, announced Friday it has given Wright State a Baa1 rating, an upgrade from the Baa2 rating the university received in 2017.<\/span><\/div>\n
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\u201cThe ratings upgrade signals the strength of Wright State University\u2019s future,\u201d said Greg Sample, the university\u2019s executive vice president and chief operating officer, in a press release from WSU. \u201cMoody\u2019s has acknowledged the specific management actions being taken to stabilize the university\u2019s operating infrastructure and position it for success in the future are moving in the right direction.\u201d<\/p>\n

Moody\u2019s said in a press release that the improved rating was, \u201cdriven by a fundamental strengthening of Wright State\u2019s financial performance and balance sheet position despite continued highly pressured revenue conditions.\u201d<\/p>\n

During the past five years, the university says it, \u201csuccessfully executed a large-scale right-sizing of expenses to mitigate the outsized revenue declines that were primarily driven by weakness in student demand and exacerbated by the COVID-19 pandemic,\u201d according to the press release.<\/p>\n

Cash and investments increased nearly 30% between fiscal year 2017 and fiscal year 2020, as expenses and debt declined, according to the university. Additional growth is expected in fiscal year 2021, and Wright State says it has no plans to borrow money in the near term.<\/p>\n

The university also says it has plans to attract students.<\/p>\n

Tom Gunlock, chair of the Wright State Board of Trustees, said he is very pleased with the ratings upgrade.<\/p>\n

\u201cThe announcement by Moody\u2019s affirms the direction Wright State is heading under the strong and stable leadership of President Edwards and her team,\u201d said Gunlock. \u201cWe are excited about what\u2019s ahead and look forward to serving our students and the region in the years to come.\u201d <\/span><\/div>\n
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View the original story at daytondailynews.com<\/a><\/span><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Moody\u2019s Investors Service has upgraded Wright State University\u2019s credit rating and revised the institution\u2019s outlook from negative to stable, the school announced. Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":21,"featured_media":102496,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[730],"tags":[],"class_list":["post-106728","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wright-state-in-the-news"],"_links":{"self":[{"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/posts\/106728","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/comments?post=106728"}],"version-history":[{"count":2,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/posts\/106728\/revisions"}],"predecessor-version":[{"id":145501,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/posts\/106728\/revisions\/145501"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/media\/102496"}],"wp:attachment":[{"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/media?parent=106728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/categories?post=106728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/tags?post=106728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}