Standard & Poor's Ratings Services said it raised its long term and underlying rating to AA from AA-minus on the Board of Trustees of the University of Alabama outstanding general revenue bonds issued on behalf of the University of Alabama.
The outlook on all ratings is stable.
"The upgrade reflects the long trend of a strong enterprise profile and operations on a full-accrual basis," said Standard & Poor's credit analyst Bianca Gaytan-Burrell. "Financial resources relative to cash and investments have also improved, but remain adequate relative for the rating category."
The University of Alabama is the flagship and original autonomous campus and, along with the University of Alabama Birmingham and the University of Alabama in Huntsville, is governed by the 17-member University of Alabama Board of Trustees. Each campus is operated as a division of the board and has a separate president. Debt is issued and secured separately on a campus level. Established in 1831, the University of Alabama, which is located on a well-maintained campus in Tuscaloosa, is the state's oldest and largest institution of higher education.
