Moody’s Investors Service has upgraded the rating for Fairfield-based Sacred Heart University to A3 from Baa1, with a stable outlook.
In announcing its upgrade, the ratings agency cited Sacred Heart’s financial strength and program diversity.
“This performance has been primarily driven by the university’s strong student demand, translating into robust enrollment and tuition revenue growth,” Moody’s said in its ratings report. “The university has undergone significant capital investment that has modernized the campus facilities and markedly improved campus appeal.”
“We are very pleased that Moody’s has recognized the value of our investments in new, modern facilities and our expansion of programs to meet the needs and interests of today’s students,” said John J. Petillo, the university’s president.