In a report dated May 7, 2013, Moody’s Investors Service affirmed the A3 debt rating on the series 2007 fixed-rate revenue bonds held by Loma Linda University. The outlook was revised to stable from negative.
The report states that the rating is based on “multi-year improvements in operating performance, including significant expense reduction and growth of net tuition revenue, and growth of financial resources.”
"We are pleased with the revised outlook from Moody’s," says Rodney Neal, MBA, senior vice president for financial affairs, LLU. "The upgrade from negative to stable reflects strengthened multi-year operating performance, positive investment results, and strong student demand for our professional programs and curricular offerings. The deans and finance officers have worked hard to contain costs and grow their asset base to enhance mission. The upgrade is recognition of these efforts and comes at a time when University net assets are at an all-time high."
The full report can be accessed at http://www.moodys.com/research/Moodys-affirms-Loma-Linda-Universitys-CA-A3-rating-on-Series--PR_272690