CHICAGO - Moody's Investors Service revised its outlook on Illinois Wesleyan University's Baa1 rating to positive due to its improved operating performance.
The action impacts $81 million of rated debt issued through the former Illinois Educational Facilities Authority in 2006. The outlook was previously stable.
The outlook revision "reflects Illinois Wesleyan's management team's ability to improve operating performance from prior years of large deficits, maintain solid debt service coverage, and grow financial resources," Moody's wrote.
The outlook also incorporates the expectation that the university will contain expense growth in line with planned enrollment declines to generate at least breakeven operating performance while maintaining a stable market position and solid balance sheet reserves and liquidity relative to peers.