{"id":135829,"date":"2023-03-08T14:59:47","date_gmt":"2023-03-08T19:59:47","guid":{"rendered":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/?p=135829"},"modified":"2024-01-04T14:40:53","modified_gmt":"2024-01-04T19:40:53","slug":"ddn-wright-state-bond-rating-upgraded-moodys-calls-wsu-outlook-positive","status":"publish","type":"post","link":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/2023\/03\/08\/ddn-wright-state-bond-rating-upgraded-moodys-calls-wsu-outlook-positive\/","title":{"rendered":"Dayton Daily News: Wright State bond rating upgraded; Moody\u2019s calls Wright State outlook \u2018positive\u2019"},"content":{"rendered":"

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

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Wright State University’s Dayton Campus<\/p><\/div>\n

Moody\u2019s Investor Services has upgraded Wright State University\u2019s credit rating and revised the university\u2019s outlook from stable to positive, the university announced.<\/p>\n

Moody\u2019s, which provides international financial research on bonds issued by commercial and government entities, announced Tuesday it has given Wright State an A3 rating,\u00a0an upgrade from the Baa1 rating the university received in 2021,\u00a0and upgraded again from the Baa2 rating in 2017.<\/p>\n

\u201cThe announcement by Moody\u2019s affirms the direction Wright State is heading under a very strong and stable leadership team guided by President Sue Edwards,\u201d said Tom Gunlock, chair of the Wright State Board of Trustees. \u201cWe are excited about what\u2019s ahead and will remain focused on serving our students and the region in the years to come.\u201d<\/p>\n

In 2017,\u00a0the university faced significant financial problems,\u00a0and there was discussion that the public university could be placed on fiscal watch. The university\u00a0conducted layoffs in 2018\u00a0and\u00a0cut faculty positions in 2021.<\/p>\n

Enrollment has also been an ongoing issue.\u00a0Wright State saw first-time student enrollment drop from 2,676 in fall 2015 to 1,541 students in fall 2022, a 42% decline. Overall enrollment has fallen about 43%, from 17,070 students in fall 2015 to 9,661 students in fall 2022.<\/p>\n

Moody\u2019s said the improved rating was driven by a material strengthening of Wright State\u2019s financial performance and balance sheet position. The continued demonstration of budgetary discipline amid challenging revenue and operating conditions was also cited.<\/p>\n

Moody\u2019s reports that Wright State\u2019s net tuition revenue was stabilizing in fiscal 2023 following a multiyear trend of declines, indicating \u201cprogress in strengthening student demand.\u201d<\/p>\n

Moody\u2019s described the university\u2019s cash reserves as \u201csolid\u201d and \u201cflexible\u201d and said its reserve balance should \u201ccontinue to provide for strong coverage of both operating expenses and the steadily diminishing levels of debt.\u201d<\/p>\n

\u201cWright State\u2019s A3 issuer rating is supported by its good brand and strategic positioning, strong fiscal management and favorable financial profile,\u201d Moody\u2019s said. \u201cDespite a prior record of enrollment and net tuition revenue declines, the university continues to serve an important role as a large public university provider with an affordable pricing structure, diverse programs and accretive external partnerships.\u201d<\/p>\n

Wright State says it has no plans to issue debt in the near term and modest growth is expected in fiscal year 2023.<\/p>\n

View the original story at daytondailynews.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Moody\u2019s Investor Services has upgraded Wright State University\u2019s credit rating and revised the university\u2019s outlook from stable to positive, the university announced. Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":23,"featured_media":135835,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[730],"tags":[],"class_list":["post-135829","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\/135829","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\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/comments?post=135829"}],"version-history":[{"count":5,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/posts\/135829\/revisions"}],"predecessor-version":[{"id":145169,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/posts\/135829\/revisions\/145169"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/media\/135835"}],"wp:attachment":[{"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/media?parent=135829"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/categories?post=135829"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/tags?post=135829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}