Standard & Poor’s recently assigned an “A” credit rating to Mercy College’s general obligation bonds, representing the highest rating bestowed on the college by Standard & Poor’s in its 60-plus year history.
The rating agency’s outlook for the Dobbs Ferry college is “stable.”
In assigning the A rating, Standard & Poor’s cited the college’s “consistently very strong operating margins,” careful expense controls and healthy financial outlook.
“This rating reflects strong financial management and financial stewardship,” said Gary Brown, chairman of the Mercy College board of trustees, in a statement. “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 to President Kimberly Cline and her team.”
Founded in 1950, Mercy College is a private, nonprofit education institution that offers more than 90 undergraduate and graduate programs.
The college has its main campus in Dobbs Ferry, in addition to satellite campuses in the Bronx, Manhattan and Yorktown Heights.