Stockton University Retains A- Credit Grade From Fitch Ratings
Stockton University is continuing in its winning ways. This institution of higher learning has been responsible for handing out grades for more than 53 years ago (since 1969).
On this occasion, it was Stockton University receiving an important grade.
Stockton University recently received a grade of A- (credit rating) from Fitch Ratings company.
STATEMENT FROM FITCH RATINGS COMPANY ABOUT STOCKTON UNIVERSITY’S CREDIT RATING
"Stockton's market position and student demand remain solid despite a softer fall 2021 admissions cycle and a moderate drop in total enrollment.
While the pandemic has driven smaller incoming classes and weaker retention through fall 2021, such pressure has been less severe than certain peer institutions, and the university appears on track to improve its incoming fall 2022 class with a return to effectively full housing occupancy.
Fitch expects Stockton will return to its pre-pandemic trend of steady, manageable growth in the next few years,” according to Fitch.
The Fitch Ratings analysis yielded that Stockton also has maintained a good operating performance through the COVID-19 pandemic.
Fitch also noted that the state of New Jersey provided increased support to Stockton during the pandemic.
Stockton has demonstrated a strong admissions performance, with about 9,000 applications being submitted for the upcoming fall, 2022 semester. This represents an increase of nearly 60 percent versus the fall, of 2021.
Stockton University President and Chief Executive Officer Dr. Harvey Kesselman is pleased with the result. He well understands how important a credit rating is going forward, as Stockton continues to grow its already broad footprint.
“The Fitch bond rating and analysis is a testament to the hard work of our faculty, staff, and administrators to balance the financial constraints of the pandemic with our commitment to providing students with the education and support services they need to succeed,” said Kesselman.
SOURCES: Fitch Ratings Company & Dr. Harvey Kesselman.