Moody's Investors Service said it has upgraded to A2 the underlying ratings on Creighton University's outstanding debt.
The outlook is stable.
The upgrade to A2 reflects Creighton's improved operations and liquidity, increasingly healthy cash and investments relative to debt and operations, and growing graduate and online enrollment contributing to overall net tuition revenue growth.
The upgrade also incorporates Creighton's reduced healthcare exposure and improved prospects for expanding its health sciences programs under the long-term academic affiliation agreement with Alegent Creighton Health.
Offsetting these factors are Creighton's highly competitive student market and the university's relatively high proportion of variable rate demand debt and counterparty exposure through multiple swap agreements.
