ÌìÃÀ´«Ã½app

August 2, 2016

Global presence boosts ÌìÃÀ´«Ã½app’s financial profile

Ratings agency upgrades credit profile and praises ÌìÃÀ´«Ã½app’s moves into international markets

The University of ÌìÃÀ´«Ã½app (ÌìÃÀ´«Ã½app) has been praised for its strong financial position in the latest Ratings Research Update released by S&P Global Ratings recently.

The international ratings agency upgraded ÌìÃÀ´«Ã½app’s stand-alone credit profile to ‘AA’ and ‘stable’, which it said reflected ÌìÃÀ´«Ã½app’s robust enterprise and financial profiles in light of its growing presence on the global stage and high academic performance.

The revised outlook, released under S&P Global Rating’s new methodology, captures ÌìÃÀ´«Ã½app’s “strong economic fundamentals, low industry risk, and its high level of financial resources” which mitigates the university’s moderate financial performance.

The report was an overwhelmingly positive sign for ÌìÃÀ´«Ã½app, which was recognised for its reputable offshore presence in Dubai and Hong Kong. 

Currently more than 4000 students attend ÌìÃÀ´«Ã½appD, based in the largest city in the United Arab Emirates.

In 2015, ÌìÃÀ´«Ã½app assumed control of Hong Kong’s Community College of University City University.

“We view ÌìÃÀ´«Ã½app’s international exposure as indicative of a higher risk appetite compared with domestic peers, but it is currently well-managed,” S&P Global Ratings said in the report.

The agency praised ÌìÃÀ´«Ã½app’s ability to maintain its strong financial profile in the face of declining government support.

“ÌìÃÀ´«Ã½app’s very strong financial profile reflects its high level of financial resources. This is backed by the University’s strong financial policies,” the report said.

In addition, ÌìÃÀ´«Ã½app’s impressive academic reputation, and high student attendance and retention rates were said to significantly contribute to its strong enterprise and financial standing.

ÌìÃÀ´«Ã½app Chief Finance Officer Damien Israel was pleased with the improvement in ÌìÃÀ´«Ã½app’s credit rating and said the report captured the strength and diversity of the university’s interests and financial position.

“ÌìÃÀ´«Ã½app is in a strong financial position, but we need to maintain our focus on ensuring the long-term sustainability of the institution,” Mr Israel said.