College Earns Top Rating from Moody's
A national investor service has awarded Harper College its highest rating, translating to lower interest rates for taxpayers. Moody's Investor Service assigned its top Aaa rating to the College's $4.9 million General Obligation Limited Bonds, Series 2013, issued this week for capital projects campus-wide.
Moody's cited Harper's strong management team, "very healthy" financial profile and manageable debt profile among the College's financial strengths, amid the reality of elevated unemployment, declining home valuations and other financial challenges. Harper has maintained the top rating since 2001.
The Aaa distinction, which also was affirmed for Harper's outstanding general obligation debt, comes on the heels of a national budget award received by the College earlier this winter.
The Government Finance Officers Association of the United States and Canada awarded Harper its Distinguished Budget Presentation Award for the 13th consecutive year. The GFOA serves more than 17,500 government finance professionals nationwide, and its annual award is a reflection of recipients' commitment to meet the highest principles of budgeting and transparency.
Press Contact: Erin Brooks, 847.925.6159