"The University of Florida is in a strong position to do great things."
S&P Global Ratings has revised the outlook to positive from stable on the rated debt outstanding issued by the Florida Board of Governors for the University of Florida.
"This good news from S&P emphasizes an important point that should make Gator Nation proud: the University of Florida is in a strong position to do great things," said Mori Hosseini, UF Board of Trustees chair. "We are committed to excellence and careful stewardship of the tremendous investments that the state of Florida has made. We are grateful for the state of Florida's continued support and dedicated to working together. The future is bright."
At the same time, S&P affirmed its 'AA+' long-term rating on the Florida BOG's outstanding student activity fee revenue bonds outstanding issued for UF.
University of Florida Interim President Kent Fuchs said he was thrilled with the news.
"The University of Florida is on an incredible trajectory," said Kent Fuchs, Interim President. "As we continue this tremendous momentum, our entire university is committed to strong financial management for our students, faculty, and state."
S&P revised the outlook to positive based on UF's maintenance of its exceptional market position, track record of surplus operations over the past few years, and exceptional balance-sheet metrics, said S&P Global Ratings credit analyst Laura Kuffler-Macdonald.
S&P also affirmed UF's AA rating on the BOG's research revenue bonds and the 'AA-' rating on the dormitory and parking facility revenue bonds outstanding.
"We are executing the vision set by UF's Board of Trustees and president, making careful and strategic investments that will best advance this university" said Taylor Jantz, UF's senior vice president and chief financial officer.
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