Troy University has once again earned an ‘A+’ long-term rating from S&P Global Ratings on its outstanding facilities revenue bonds. The stable outlook reflects the University’s strong financial position, effective leadership, and proactive planning amid ongoing challenges in higher education.
The agency cited TROY’s solid and growing financial resources, manageable debt burden, and stable management team as key credit strengths. As of fiscal year 2024, Troy University reported cash and investments equal to 163% of operating expenses and 365% of total debt—figures that exceed median levels for similarly rated public universities.
“This rating affirms the sound financial stewardship and strategic planning that defines Troy University,” said Dr. Jack Hawkins, Jr., Chancellor. “It also reflects the institutional commitment—beginning with our Board of Trustees in partnership with our administrative team—to financial sustainability. At a time when many colleges and universities across America are facing serious financial uncertainty, or even closure, this report underscores the strength, stability, and resilience of TROY.”
Additional highlights from the report include:
- Rapid Debt Amortization: Approximately 71% of the University’s debt will be retired within 10 years.
- Geographic Diversity: 35% of students come from outside Alabama, providing a broad recruitment base.
- Solid Financial Performance: Fiscal year 2024 concluded with an operating surplus and increased state appropriations.
“This strong rating is the result of years of careful planning and responsible financial stewardship,” said Dr. Jim Bookout, Senior Vice Chancellor for Finance and Administration and Chief Financial Officer. “Our team remains focused on managing costs, maximizing resources, and positioning Troy University for continued long-term success.”
S&P also praised the University’s strategic planning, scenario-based budgeting, and diversified revenue sources.
Founded in 1887, Troy University serves students through its flagship campus in Troy, Alabama, and a global network of teaching sites and online programs.
