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 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.
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