FAIRMONT, W.Va. – Fairmont State University received an “A2” rating from Moody’s Investors Service.
According to a Moody’s press release, the assignment of the A2 rating incorporates Fairmont State’s good strategic positioning and solid financial position, including sound liquidity and healthy operating performance.
Moody’s added that the University’s solid financial position is evidenced by consistently healthy operating performance including strong operating cash flow margins and healthy liquidity. The University maintains a regionally important role within the state, and has experienced stable enrollment rates despite the effects of the pandemic.
Fairmont State University managed a high rating but national ratings for higher education are trending downward because of the pandemic.
“I am grateful we’ve achieved this strong financial stability rating again,” said Mirta M. Martin, Fairmont State University President. “And when I say ‘we,’ I mean it. The financial strength of an institution is only partly due to its strategies – it’s the exceptional people in our Falcon Family that truly made this possible; people like our CFO, Christa Kwiatkowski who leads our Finance Division. At a time when other schools across the country are struggling under decreased state budgets and the impact of COVID-19, Fairmont State University continues to grow stronger and stronger. And that is a direct reflection of our extraordinary faculty, staff, students, our Board of Governors and executive leadership team.”
The system of rating securities was originated by John Moody in 1909. The purpose of Moody’s ratings is to provide investors with a simple system of gradation by which future relative creditworthiness of securities may be gauged.
“We are very, very honored and very grateful to have that rating and showcase the finical stability of the institution it showcases,” Dr. Martin said. “It has been a vision that has been embraced by the falcon family, I cannot underscore enough that the finical stability if this institution it’s not because of one person it’s because we the people, we the family of Fairmont State University.”