Despite another challenging year for the post-secondary sector, Brock University has improved its trends rating and retained its A High credit rating from the Dominion Bond Rating Service (DBRS) Morningstar.<\/p>\n
DBRS released its rating report<\/a> on the University this week and gave Brock the A High rating for the sixth straight year. It also changed Brock\u2019s trends ratings from \u2018negative\u2019 to \u2018stable\u2019 for Issuer Rating and Senior Unsecured Debentures.<\/p>\n This improvement in trend ratings reflects DBRS\u2019s view that Brock\u2019s continued sound fiscal management combined with a modest increase in enrolment forecast will lead to better financial risk metrics than previously expected.<\/p>\n Brock University Board of Trustees Chair Mark Arthur said the upgraded rating is an important distinction.<\/p>\n \u201cThe DBRS Morningstar ratings are an important indicator of an institution\u2019s financial health, and this step forward to stable reflects Brock\u2019s hard work over a period of unprecedented challenge for the university sector,\u201d said Arthur. \u201cThis is a positive key indicator as we look to the future.\u201d<\/p>\n Brock Interim President Lynn Wells said the DBRS rating is a reflection of hard work across the University.<\/p>\n \u201cThe impact of the COVID-19 pandemic on Brock and on the post-secondary sector as a whole has required us to make some significant financial decisions over the past two years,\u201d said Wells. \u201cOur ability to maintain our A (high) rating and improve our trend during this difficult time points to the hard work of our Finance team and of all those around the University who have prudently managed their budget areas to ensure Brock\u2019s continued financial stability.\u201d<\/p>\n Despite student fees being down by four per cent, Brock reported a higher-than-expected revenue surplus, largely on account of a one-time COVID-19 support funding from the provincial government. Some ancillary revenue was recovered with the resumption of on-campus learning in Fall 2021 and savings were realized on personnel costs through ongoing cost-mitigation strategies.<\/p>\n More details are available in DBRS\u2019s press release<\/a> and to learn more about Brock\u2019s financial information and view a list of the University\u2019s DBRS Morningstar debt ratings, visit the University Financial and Budget Information website<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Despite another challenging year for the post-secondary sector, Brock University has improved its trends rating and retained its A High credit rating from the Dominion Bond Rating Service (DBRS) Morningstar.<\/p>\n","protected":false},"author":1,"featured_media":71756,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[8701,10072,214,8809,9895,11275,11274],"_links":{"self":[{"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/posts\/76913"}],"collection":[{"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/comments?post=76913"}],"version-history":[{"count":1,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/posts\/76913\/revisions"}],"predecessor-version":[{"id":76914,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/posts\/76913\/revisions\/76914"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/media\/71756"}],"wp:attachment":[{"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/media?parent=76913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/categories?post=76913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/tags?post=76913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}