Dobbs Ferry, N.Y. – (August 29, 2012) – Mercy College today announced it has received an ‘A’ credit rating by Standard & Poor’s Rating Services–evidence of the College’s strong capacity to meet its financial commitments and healthy financial outlook. The ratings agency reported that the College’s executive leadership team is “focused on measurable results,” and noted the College has enjoyed positive growth in enrollment while keeping its tuition low relative to its peers. In assigning the ‘A’ rating with a stable outlook, Standard & Poor’s also cited the College’s low debt, consistent and strong operating margin, careful expense control and healthy financial outlook moving forward.
Gary Brown, Chairman of the Board of Mercy College, expressed his pleasure with the ‘A’ rating assigned by Standard & Poor’s stating, “This rating reflects strong financial management and financial stewardship. The outstanding progress at the College is a result of the efforts of our committed Board of Trustees and is a credit to the leadership of President Kimberly Cline and her team. We look forward to a solid future for the College with a continued focus on the success of our students.”
The designation marks the first ‘A’ rating by Standard & Poor’s Mercy College has received in its more than 60-year history and the rating reflects the view that over the next two years Mercy College will maintain strong operating margins, achieve its enrollment goals and continue to build its financial resources through long-term investments.
“We are honored to receive this prestigious recognition as we continue our mission to provide a high-quality private education to competitive students, enabling graduates to achieve their academic and career goals,” said Dr. Kimberly Cline, President of Mercy College.
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