CHICAGO - A.T. Still University of Health Sciences in Missouri received a first-time rating of A3 from Moody's Investors Service.
The rating impacts $26 million of new debt being sold next month by the 122-year-old university through the Missouri Health and Educational Facilities Authority.
"The A3 rating reflects the university's strong niche market with health sciences, dental and osteopathic programs at its Arizona and Missouri campuses," Moody's analysts wrote.
The university, which had revenues of $120 million in fiscal 2013, benefits from healthy net tuition revenue and strong student demand for its professional and graduate program offerings in the two states. The university also exhibits a history of prudent financial management practices, Moody's said.
The college's challenges include operating in a niche health care education market with a high level of competition, heavy dependence on student charges, and increasing exposure to health care revenue through the operation of several medical and dental clinics.
