Aa1 Moody's rating for the University of Sydney
21 March 2014
The University of Sydney has received a first-time Aa1 issuer rating from Moody's Investor Service, reflecting its strong financial performance and prominent market position in Australia.
Moody's Investors Services is a leading global credit rating agency which ranks the creditworthiness of borrowers using a standardised ratings scale. A rating of Aa1 affirms the University as being a high quality credit with a low level of risk attached to its debt obligations.
Along with its healthy financial performance and strong institutional framework, the University's rating is strengthened by its status as one of Australia's flagship institutions.
With an international reputation as a leader in research and education, it is also predicted that the University's investment in world-class facilities - including the Charles Perkins Centre, Abercrombie Precinct, and Australian Institute for Nanoscience - will further bolster the University's ability to attract top academics, researchers and students.
The report praises the University's recent strategic reforms, which have contributed to even stronger fiscal management and improved operating results. It also recognises the University's strong local and international market position, healthy financial performance, and ample liquidity to meet financial and debt obligations.
Vice-Chancellor of the University, Dr Michael Spence, said the report was recognition of the significant efforts made by the University to effectively manage its finances in order to increase available resources to further improve its teaching and research.
"We are delighted at this recognition of the effort we have made to ensure our finances are in order so we can deliver on our academic strategy. We are especially pleased we have been able to achieve this while still ensuring our staff are among the best paid in the Australian higher education sector and delivering $2.5 billion of improvements to our campus infrastructure between 2012 and 2020," Dr Spence said.
Importantly, the report noted the success of the University's fundraising efforts when compared to other Australian institutions, having already raised over 60 percent of our $600 million Campaign goal.
The Vice-Chancellor thanked the many members of the University communities who have contributed to this success, including alumni, staff, students, and industry partners.
"In supporting the University of Sydney, our donors take part in a tradition of philanthropy that has transformed learning, teaching and research across the University and enhanced Sydney's reputation as one of the world's great universities. This report provides further evidence of the importance of these efforts and has renewed our commitment to a strong philanthropic program," Dr Spence said.
|Follow University of Sydney Media on Twitter|
Media enquiries: Kirsten Andrews, 02 9114 0748, 0413 777 404, email@example.com