University of Rochester

2007-08 Financial Statement Highlights

Debt

bar chart: Longterm Debt

Credit Ratings

Moody's Investors Service rating reflects:

  • The University’s large diversified enrollment base, with highly reputable graduate programs and continued healthy growth in net tuition per student; continued strengthening of student demand most directly demonstrated by a ramp-up in yield on admitted students.
  • Healthy and highly consistent cash flow generated by the University as a whole stemming from strong performance of health system, growing research activities and a rising endowment.
  • Large financial resource base which has exhibited continuous growth over the last few years as fundraising and investment returns fueled growth.
  • Potential for significant expansion in fundraising success as senior leadership team focuses on investing in development infrastructure.

Standard & Poor's rating reflects:

  • Good and improving demand for undergraduate programs and a comprehensive array of graduate and professional programs;
  • A history of balanced financial operations, generating increased operating surpluses in fiscal 2007 and expected surplus operations for fiscal year 2008 coupled with good revenue diversity.
  • A sizable endowment of $1.7 billion at June 30, 2008; and
  • Historically manageable debt burden, with just $709 million of outstanding debt at June 30, 2007.