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On Tuesday, April 30, 2024, international credit rating agency, DBRS Limited (Morningstar DBRS) issued a news release confirming the Issuer Rating and Senior Unsecured Debt rating of 91��Ƭ�� remains unchanged at AA. The agency noted the ratings are stable, and “reflect the University 91��Ƭ�� ’s strong academic profile, resilient student demand, and effective management practices, which have translated into a consistently strong balance sheet over many years.”

The report also notes a negative rating action could result from a sustained deterioration in operating results leading to considerable balance sheet deterioration, or a material erosion of the university's academic profile and student demand for its programs. 

The university 91��Ƭ�� ’s Balanced Budget Plan aims to return the university to structural balance over the next two years. Measures that have been implemented so far include a hiring freeze; voluntary retirement and early exit incentives; base budget reductions across the university; general spending reductions in areas like travel, planned deferral of IT projects, and non-essential spending; and operational improvements such as sharing of services and expenses, joint investments, and new campus partnerships.

Read the full report on the Financial Services website.