Moody’s gives College bonds third highest rating
April 7, 2017
Moody’s Investors Service gave a Aa2 rating—the third-highest rating it assigns—to $45 million of the College’s proposed bonds. The bonds will mature in 2047. Moody’s also affirmed its previously assigned Aa2 rating on approximately $264 million of the College’s existing revenue bonds, according to a release by the agency on March 17. Moody’s has given the College’s bonds this rating for several years.
Bonds allow the College to borrow money by agreeing to pay the owner of the bond a certain amount on a certain date. Bonds with A ratings are considered safer investments, meaning the borrower is likely to pay the amount back.
The release cited that Bowdoin was expected to “maintain solid operating performance and strong fundraising to support programmatic and capital investments,” as evidence that the College is likely to make its payments on time.
Before submitting a comment, please review our comment policy. Some key points from the policy: