Moody’s outlook for UMass improves
Calls acquisition of Mount Ida College ‘mildly credit positive’
A BOND RATING AGENCY issued a fairly rosy report Thursday on the five-campus University of Massachusetts system.
Moody’s Investors Service kept its UMass bond rating at Aa2, its third-highest level, but changed the outlook from negative to stable, suggesting the rating will remain stable for the next year to two years. The company said the improvement reflected expectations of steady enrollment, positive operating performance, and growth in financial resources.
The report said UMass Amherst’s proposed acquisition of Mount Ida College in Newton would be “mildly credit positive” for the university system. It noted the acquisition would not have a material impact on the system.