ICC Earns High Bond Rating from Standard & Poor’s
Standard and Poor’s Ratings Services recently assigned Illinois Central College a rating of “AA+” in a report issued January 20. The rating comes following the agency’s review of the college’s financial position, financial management practices and local economy.
The high credit rating validates the college’s strong fiscal management and thoughtful stewardship and also allows ICC to access credit at the lowest possible cost. The report cites strong financial operations with proper reserves, good financial management practices, and low debt burden among the rationale for the high rating.
“This rating confirms the College’s solid financial position and its continued commitment toward fiscally sound management going forward,” said Interim President Bruce Budde, whose most recent role was Executive Vice President of Administration and Finance for the College.
“As the State reaches its eighth month without a budget in place, ICC proceeds with an abundance of caution in all of its operational planning, all the while pursuing the mission to offer our students the exceptional education experience they expect and deserve.”
For more information on ICC, visit icc.edu or call (309) 694-5-ICC.