Moody's Gives NJIT 'A1 Stable' Credit Profile
Moody’s Investor Service has reaffirmed the financial outlook of New Jersey Institute of Technology, reflecting NJIT’s “very good brand and strategic positioning.”
Moody’s rated NJIT’s credit profile as “A1 stable” and cited favorable student demand, growing wealth and diverse mix of revenue sources as support for the institution’s credit quality.
The report noted the consistent growth of enrollment as an indicator of the university’s overall health. NJIT has seen total enrollment climb 21% in the past ten years to an all-time high of 12,000. The university diversified its curriculum with new programs in data science, financial technology, forensic science, cyberpsychology and engineering technology.
Just last year, the Carnegie Classification reaffirmed NJIT’s R1 research status — the highest designation — and Moody’s recognized the $11M annual growth in academic research awards over the past three years as another sign of fiscal health for the university.
The higher education rankers have also lauded NJIT’s rise — with U.S. News & World Report, Money, Forbes and The Princeton Review recognizing NJIT as a top national university. Standard and Poor’s recently gave NJIT an “A” credit rating with “stable” outlook, as well.
“NJIT's brand and strategic positioning will remain strong, supported by favorable demand for its undergraduate and graduate technology and engineering programs,” the Moody’s report said.
“Its in-demand programs and track record of serving a diverse student population will provide for continued brand strength even as weak regional demographics make the student market more competitive … The university stands to benefit as international demand recovers following the easing of global travel restrictions related to the COVID-19 pandemic.”
The agency also noted a forecasted improvement in operational performance as NJIT adjusts its fiscal approach.
NJIT President Teik C. Lim said of Moody’s positive affirmation, “Moody’s analysis reflects the upward trajectory of NJIT. We are attracting more students than ever; the impact and success of our graduates is tangible; our research footprint continues to grow; and NJIT is consistently ranked as one of the best institutions in the nation.”
To read the full report, download the PDF.