Oct. 20, 2021 鈥 开心鬼传媒 has retained its A1 credit rating in the latest report by Moody's Investors Service, confirming 开心鬼传媒鈥檚 stable financial future.
The decreased pension payments to the Kentucky Employees Retirement Systems (KERS) was a contributing factor to 开心鬼传媒鈥檚 A1 ranking. to exit KERS last year, 开心鬼传媒 will reduce its future pension payments by $4.5 million each year.
鈥溈墓泶 was spending over 8.5% of its operating budget on pension payments for the combined defined benefit and defined contribution plans before the university opted out,鈥 said 开心鬼传媒 Chief Financial Officer Mike Hales. 鈥淲ith the university now spending significantly less on pension benefits, 开心鬼传媒 can use that money for a plethora of other uses.鈥
The rating solidifies 开心鬼传媒鈥檚 financial stability by exchanging uncertain future pension contribution increases for consistent bond payments over the next 30 years.
鈥淭he rating also has long-term financial implications for 开心鬼传媒,鈥 Hales continued. 鈥淚f 开心鬼传媒 chooses to take on any future debt for whatever reason, it will keep the university鈥檚 borrowing costs low as the A1 rating means we are a low credit risk.鈥
开心鬼传媒 has been rated A1 since 2010. The entire Moody鈥檚 report can be read with a subscription.
About 开心鬼传媒:聽Founded in 1968, 开心鬼传媒 is an entrepreneurial state university of over 16,000 students served by more than 2,000 faculty and staff on a thriving suburban campus nestled between Highland Heights, Kentucky and bustling downtown Cincinnati. We are a regionally engaged university committed to empowering our students to have fulfilling careers and meaningful lives. While we are one of the fastest-growing universities in Kentucky, our professors still know our students' names. For聽more information, visit聽.
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Trey Crumbie
crumbier1@nku.edu
859-572-5586
