The credit rating agency S&P Global Ratings has affirmed George Washington University’s A+ long-term rating and determined the university’s financial outlook to be stable, according to a new report.
Although uncertainty is high regarding the duration and extent of the effects of the COVID-19 pandemic, S&P Global Ratings finds that GW has taken prudent steps to ensure the safety of its students, faculty, and staff while remaining financially responsible.
S&P Global Ratings determined that GW's management responded promptly in aligning the university's expenditures with conservatively budgeted revenue, and this, together with available resources, should help the university offset medium-term pressures that might arise as a result of the pandemic.
The S&P report comes after Moody’s Investors Service affirmed GW’s A1 rating with a stable outlook last fall, citing the university’s financial strength and strategic positioning.
“The positive assessments and stable outlook from S&P and Moody’s are important external validations of the university’s financial strength and our ability to continue to support our core academic mission far into the future,” President Thomas LeBlanc said. "I am grateful for the efforts of many members of our community, led by CFO Mark Diaz, for helping us achieve these impressive results."