Standard & Poor’s, a top national credit rating agency, has affirmed that Delaware State University continues to maintain an A+ credit rating.
According to Standard & Poor’s recent assessment of the institution, the A+ rating reflects that DSU has a strong leadership team that keeps the University focused on its strategic plan. The assessment also noted the University’s modest debt burden of 3.5% of 2009 expenses with no addition debt planned.
“It signifies the confidence of people who conduct an extensive evaluation on our financial management,” said DSU President Harry L. Williams. “To get an A+ rating in these tough economic times says a lot about our financial managers and the transparency of the institution.”
Marvin Lawrence, DSU Board of Trustees member and chair of the board’s Finance Committee, said that while the University works hard to continually assess its financial system, it is also great encouragement to receive such validation from a top outside agency.
“We are elated to have received this credit rating, and it is really a reflection of DSU’s financial staff,” Mr. Lawrence said. “They work hard to manage the financial aspects of the University and keep the institution on point.”
Standard & Poor’s has been designated by the U.S. Security and Exchange Commission as a nationally recognized statistical rating organization.