New Brunswick, NJ — Sophie Nieto-Munoz reports in The Star-Ledger/NJ.com that, after a successful merger and induction into the Big Ten conference, a top Wall Street firm that once had its doubts about Rutgers University has changed it's outlook.
Moody's Investor Service revised its outlook of Rutgers from negative to stable. The university now has a $100 million revolving credit agreement from Bank Of America, Moody's officials said.
"Revision of the outlook to stable is based on our expectations of stabilizing operations at slightly better than break-even levels, resulting in modest operating cash flow," Moody's said in a statement.
Moody's Investor Service revised its outlook of Rutgers from negative to stable. The university now has a $100 million revolving credit agreement from Bank Of America, Moody's officials said.
"Revision of the outlook to stable is based on our expectations of stabilizing operations at slightly better than break-even levels, resulting in modest operating cash flow," Moody's said in a statement.
The company indicated the university's leadership demonstrated the ability to plan and execute complex strategic change, and increased financial resources through fundraising.
Moody's also pointed to Rutgers' ability to break slightly above even, which leads to modest operating cash flow growth.
In 2013, Moody's downgrade was driven by the merger with Rutgers and University of Medicine and Dentistry of New Jersey, which they were concerned could affect the school's finances.
But Moody's said the operating cash flow has improved since 2014 and effective management has successfully displayed the capability to plan and execute major strategic and operational changes.
For the full story, click here.
Moody's also pointed to Rutgers' ability to break slightly above even, which leads to modest operating cash flow growth.
In 2013, Moody's downgrade was driven by the merger with Rutgers and University of Medicine and Dentistry of New Jersey, which they were concerned could affect the school's finances.
But Moody's said the operating cash flow has improved since 2014 and effective management has successfully displayed the capability to plan and execute major strategic and operational changes.
For the full story, click here.
