http://www.bizjournals.com/birmingham/ne...ategy.html
May 24, 2016, 1:24pm CDT
Updated May 24, 2016, 1:45pm
Alan Alexander
Reporter
Birmingham Business Journal
The University of Alabama has received a significant upgrade to its financial standing.
S&P Global Ratings raised the bond credit ratings of UAB last week from AA- to AA. The bonds are issued on behalf of UAB by the University of Alabama System.
"The upgrade reflects our view of UAB’s very strong enterprise and financial profile leading to an initial indicative and final stand-alone credit profile rating of AA and bond issue rating of AA,” said S&P Global Ratings analyst Ken Rodgers.
A strong enterprise profile and exemplary leadership were some of the cited factors by S&P for moving UAB to the highest AA level. S&P also listed UAB's status as a comprehensive research university, along with its plethora of resources across campus and low debt burden.
“S&P has a rigorous and thorough assessment process, and we appreciated the opportunity to demonstrate UAB’s financial status and strategy to S&P’s analysts,” said UAB Vice President Allen Bolton. “A ratings upgrade in this environment is a very positive validation and another proof point of our great institution’s positive momentum.”
[Alan Alexander covers health care, technology and education for the Birmingham Business Journal.]