Moody’s Investors Service has revised Stockton University’s outlook from negative to positive, citing the university leadership’s strong budgetary policies, financial monitoring and long-term planning approach.
Stockton’s credit rating was affirmed at Baa1. Moody’s notes that the revision to a positive outlook also reflects the potential for additional credit improvement if the university continues to successfully deliver on key priorities.
In its report, Moody’s said the improved outlook reflects “the successful delivery of the Atlantic City expansion and attainment of revenue and enrollment projection during this period of substantial investment and growth.” It states Stockton’s leadership team has a cohesive and well-coordinated forward agenda which, along with a demonstrated record of managing large and complex initiatives with the state, provides a solid foundation for continued growth.
Stockton President Harvey Kesselman said he is satisfied to see the efforts to improve Stockton’s financial standing have been recognized. “Going directly from a negative to a positive outlook is a huge achievement. We appreciate the support we have received from the community and the State and are hopeful that additional State support will be provided to continue with our expansion in Atlantic City. Stockton is growing, and we will continue to plan our expansion in a manner that is fiscally responsible for our students and stakeholders.”
The report found the overall trajectory of the university has improved, including the ability to improve Net Tuition Revenue and continue with positive enrollment growth. Additionally, a strong level of support from the State as well as donors is reassuring.
Finally, the successful completion of the Atlantic City campus and sizable investment at the Galloway campus underscores the university leadership’s actively-managed long term planning approach.