University of Rochester

Financial Statement Highlights

Debt

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;
  • Healthy financial resources which have exhibited continuous growth over the last few years as fundraising and investment returns fuel growth;
  • Long history of balanced operating performance for the University as a whole stemming from strong performance of the health system, growing research activities and a growing endowment; and
  • Potential for significant expansion in fundraising success as the relatively new senior leadership

Standard & Poor's rating reflects:

  • Good and improving demand for undergraduate programs and a comprehensive array of graduate and professional programs;
  • A history of good financial operations, generating increased operating surpluses in fiscal 2005 and 2006, along with good revenue diversity;
  • A sizable endowment of $1.49 billion at June 30, 2006; and
  • Historically manageable debt burden, with only $541 million of outstanding debt at June 30, 2006 and total pro forma debt of approximately $680 million.