S&P upgrades College of DuPage bond rating

Standard & Poor's has revised the College of DuPage bond rating from “AA” to “AA+” and affirmed its rating outlook of “stable” on the college's outstanding general obligation bonds.

The rating agency wrote in its rationale, “The raised rating reflects the College's continued positive financial operations and its successful implementation of a new governing structure.”

“COD has maintained a very strong financial position, despite some turbulence in the last few years,” said COD President Ann Rondeau. “We are very pleased that Standard & Poor's recognizes the excellent operations at the College and consider it a strong indicator that we are meeting our fiduciary obligations to our students and our taxpayers.”

Earlier this month, Moody's Investors Service affirmed the Colleges Aa1 rating and shifted its outlook from stable to positive. In its rationale, Moody's, like S&P, cited the College's strong financial operations and leadership. Moody's wrote, “The positive outlook reflects the removal of the district's accreditation from probation as officials have made progress toward improved governance. Additionally considered is the district's strong financial performance during the state's budget impasse.”

College of DuPage Board Chairman Deanne Mazzochi said she's pleased with the positive direction the College has taken to strengthen financial safeguards and implement best practices procedurally throughout the institution.