Stockton Maintains A- Rating with Fitch
Galloway, N.J. – Stockton University has maintained its A- bond rating with Fitch Ratings the company announced April 8, noting that the rating outlook is stable.
In its press release, Fitch said: “Stockton's market position and student demand remain solid despite a softer fall 2021 admissions cycle and a moderate drop in total enrollment. While the pandemic has driven smaller incoming classes and weaker retention through fall 2021, such pressure has been less severe than certain peer institutions, and the university appears on track to improve its incoming fall 2022 class with a return to effectively full housing occupancy. Fitch expects Stockton will return to its pre-pandemic trend of steady, manageable growth in the next few years.”
The analysis also said the university has maintained good operating performance through the pandemic and has benefitted from increased state support.
Admissions to Stockton look strong, with almost 9,000 applications submitted for the fall 2022 cohort, an almost 60% increase from fall 2021.
“The Fitch bond rating and analysis is a testament to the hard work of our faculty, staff and administrators to balance the financial constraints of the pandemic with our commitment to providing students with the education and support services they need to succeed,” said Stockton President Harvey Kesselman.
Reported by Diane D'Amico