Excerpt from the Dayton Daily News
Moody’s Investor Services has upgraded Wright State University’s credit rating and revised the university’s outlook from stable to positive, the university announced.
Moody’s, which provides international financial research on bonds issued by commercial and government entities, announced Tuesday it has given Wright State an A3 rating, an upgrade from the Baa1 rating the university received in 2021, and upgraded again from the Baa2 rating in 2017.
“The announcement by Moody’s affirms the direction Wright State is heading under a very strong and stable leadership team guided by President Sue Edwards,” said Tom Gunlock, chair of the Wright State Board of Trustees. “We are excited about what’s ahead and will remain focused on serving our students and the region in the years to come.”
In 2017, the university faced significant financial problems, and there was discussion that the public university could be placed on fiscal watch. The university conducted layoffs in 2018 and cut faculty positions in 2021.
Enrollment has also been an ongoing issue. Wright State saw first-time student enrollment drop from 2,676 in fall 2015 to 1,541 students in fall 2022, a 42% decline. Overall enrollment has fallen about 43%, from 17,070 students in fall 2015 to 9,661 students in fall 2022.
