The University of Hawaiʻi’s “AA” bond rating was recently affirmed by Fitch Ratings Inc., a designated rating organization of the U.S. Securities and Exchange Commission. The rating covers about $454 million in university revenue bonds currently outstanding. The positive annual review is based on the university’s strong operating and capital support by the state and the expectation that the UH will continue to weather near-term economic pressures.
“This latest bond review shows that UH continues to maintain a strong financial footing, even after the COVID-19 pandemic,” said Kalbert Young, UH vice president for budget and finance/chief financial officer. “The goal is to continue to build on this solid foundation to ensure that we continue to fulfill our mission of providing affordable access to high-quality higher education for the people of Hawaiʻi.”
In issuing its rating, Fitch Ratings Inc. also noted a number of financial strengths of UH, including UH’s revenue diversity with strong levels of state operating support, the extent of research grants, and level of fundraising. Extramural funding at UH that includes external investments from the federal government, industry and non-profit organizations reached a record $505 million in fiscal year 2022. The UH Foundation raised a record $165 million in donations during that same time period.
