FAIRFIELD, Conn. - Moodys Investors Service has upgraded Sacred Heart Universitys rating to A3 from Baa1, with a stable outlook. The upgrade acknowledges the Universitys very strong financial performance, according to Moodys. This performance has been primarily driven by the Universitys strong student demand, translating into robust enrollment and tuition revenue growth, as well as program diversity the report stated. The report also noted that the University has undergone significant capital investment that has modernized the campus facilities and markedly improved campus appeal.
Sacred Heart University is currently experiencing a period of growth in its facilities and programs as well as its student population.
We are very pleased that Moodys has recognized the value of our investments in new, modern facilities and our expansion of programs to meet the needs and interests of todays students, said SHU president John J. Petillo.
SHUs recent facilities expansion includes the purchase of GEs former worldwide headquarters in Fairfield, which will become an innovation campus for the University; the fall-semester opening of its state-of-the-art Center for Healthcare Education on Park Avenue, Bridgeport; the planned opening of a diner on campus in October with extended hours for students; and the planned opening in January of Toussaint (residence) Hall, which follows the opening of Bergoglio Hall in fall of 2016. Also currently under construction at the University are a new headquarters for WSHU radio and SHUs Public Safety Department and a new student sports center.
In December, Standard & Poors raised Sacred Heart Universitys long-term rating to A from BBB+. Only three other private colleges in Connecticut (Yale, Wesleyan and Trinity) have an A rating or higher from Standard & Poors.
PHOTO CAPTION: From top left, clockwise: Sacred Heart University facility upgrades include Toussaint Hall, JP's Diner, the WSHU/SHU Public Safety building and the Center for Healthcare Education.