Standard & Poor’s last week upgraded Northwestern Michigan College’s debt two notches to AA in recognition of its very strong reserves and good financial management.

Analysts did the review in conjunction with the school’s $3.75 million refunding of its 1999 debt. The college benefits from its location in the Grand Traverse County area, a regional economic center for a six-county area that is growing and has rising wealth levels.

“We expect the college’s strong financial performance, with limited additional capital needs, to continue,” wrote analyst Justin Formas.

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