INDIANAPOLIS, Ind. – Fitch Ratings announced it has raised Ivy Tech Community College’s (Ivy Tech or the College) “AA” credit rating to a “AA+” rating. This upgrade communicates the confidence Fitch Ratings has in the College’s financial position, and is the highest rating from Fitch in the College’s history.
Ivy Tech has remained laser focused on student success initiatives while strengthening our financial position. This is a testament to the entire College that investing in student success and a strengthening financial position are not mutually exclusive.
– Dr. Sue Ellspermann, President of Ivy Tech.
"Our financial strength allows us to to innovate and invest in our students while shifting the paradigm of higher education to adapt more quickly to Indiana’s workforce needs, all while keeping tuition affordable," said Dr. Sue Ellspermann, President of Ivy Tech.
According to Fitch, the upgrade to “AA+” reflects the College’s established trend of very strong operating performance that has steadily expanded reserves and available funds. The rating also reflects the College’s historically strong cash flow margins, significant liquid reserves, and very favorable debt leverage ratios maintained through a Fitch-modeled stress scenario.
“The rating upgrade by Fitch Ratings speaks to Ivy Tech’s consistently strong financial management practices and implementation of strategic initiatives that promote growth and ensure operational excellence,” said Dom Chase, Senior Vice President of Business Affairs and Chief Financial Officer. “Our campuses continue to focus on financial stability while investing in our communities to support the success of our students, faculty, and staff.
“Fitch views ITCC’s demand profile as competitive given its proven resilience from serving a range of populations through a diversified mix of credential programs, while retaining strong market position in its broad reach through its multiple campuses throughout the State of Indiana,” the report states.
About Ivy Tech Community College
Ivy Tech Community College is Indiana's largest public postsecondary institution and the nation's largest singly accredited statewide community college system, accredited by the Higher Learning Commission. Ivy Tech has campuses throughout Indiana and also serves thousands of students annually online. It serves as the state's engine of workforce development, offering associate degrees, long- and short-term certificate programs, industry certifications, and training that aligns with the needs of the community. The College provides a seamless transfer to other colleges and universities in Indiana, as well as out of state, for a more affordable route to a bachelor's degree.
