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.
