University of Rochester

Financial Statement Highlights


bar chart: Longterm Debt

Credit Ratings

Moody's Investors Service rating reflects:

  • The University's large diversified enrollment base, with highly reputable graduate programs and continued healthy growth in net tuition per student;
  • Strong performance by the health care system, although heavy reliance on health care operations remains a risk;
  • Healthy financial resources which have exhibited continuous growth over the last few years as fundraising and investment returns fuel growth; and
  • Long history of balanced operating performance stemming from strong performance of health system, growing research activities and a growing endowment.

Standard & Poor's rating reflects:

  • History of balanced financial operations, generating operating surpluses of $30 million or 2% of budget in 2004, $75 million or 4% in 2005, and the expectation that 2006 will also end with a surplus;
  • Successful fundraising efforts and continued growth in sponsored research;
  • Relatively stable demand trends, with good selectivity coupled with strong student quality and good student retention; and
  • Large endowment, exceeding $190,000 per student.