Standard and Poor’s Global Ratings upgraded Fayetteville State University’s issuer credit rating to A-, indicating the University’s improved fiscal stability and steady growth. Such ratings are a factor in interest rates when institutions and governments borrow money.
The ratings credit overview pointed to FSU implementing strategic initiatives, prudent leveraging of available resources and expanding funding sources as contributing to the bump.
“The challenging financial climate compounded by the negative impact of the pandemic over the last few years put FSU at a decided disadvantage with regard to its credit outlook,” said Lillian Wanjagi, Ed.D., FSU vice chancellor for business and finance and chief financial officer, in a press release. “The university overcame those disadvantages through diligence in managing its resources and responsibilities; S&P’s upgrade affirms FSU’s efforts to strengthen its capacity to provide a world-class education for residents of North Carolina, the military and beyond. The University’s fiscal responsibility is an integral part of that plan, and this upgrade is a clear sign that we’re on the right track.”
According to Wanjagi, key points in S&P’s upgrade include:
“We have worked extremely hard with our partners in the UNC System and state government to fortify FSU’s financial foundation and advance our mission to offer a premier education that is affordable and accessible,” said FSU Chancellor Darrell T. Allison, J.D. in a press release. “Our upgraded rating is a testament to the University’s fiscal health, longevity and promise for students now and in the future. In a time when thousands of colleges and higher education campuses are closing, FSU is growing and getting stronger. We aim to continue that trend.”
Recent initiatives at FSU aimed at strengthening its academic opportunities and growing its footprint to support the upgrade include the following:
To wrap up the first day, attendees were able to meet up for a social event at the Brad Halling American Whiskey Ko. in Southern Pines where a $10,000 check was presented to the Joint Special Operations Foundation for their scholarship fund. Photo pr
The three-story, 200,000 square-foot business incubator space is located at 420 Maiden Lane. The building features an elevator, construction has begun on handicap bathrooms for the first floor and the second and third floors feature window walls offering views of Segra Stadium.
Image provided by FTCCFocused on building the local workforce and streamlining the education process through real world learning, the Hope, Opportunity, Prosperity through Education Program at Fayetteville Technical Community College (FTCC), also kno