��ǿ�� Awarded A1 Stable Ranking By Moody’s: ��ǿ��, Greater Cincinnati Region

��ǿ�� Awarded A1 Stable Ranking by Moody’s

Oct. 20, 2021 — ��ǿ�� has retained its A1 credit rating in the latest report by Moody's Investors Service, confirming ��ǿ��’s stable financial future.

The decreased pension payments to the Kentucky Employees Retirement Systems (KERS) was a contributing factor to ��ǿ��’s A1 ranking. to exit KERS last year, ��ǿ�� will reduce its future pension payments by $4.5 million each year.

“��ǿ�� 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,” said ��ǿ�� Chief Financial Officer Mike Hales. “With the university now spending significantly less on pension benefits, ��ǿ�� can use that money for a plethora of other uses.”

The rating solidifies ��ǿ��’s financial stability by exchanging uncertain future pension contribution increases for consistent bond payments over the next 30 years.

“The rating also has long-term financial implications for ��ǿ��,” Hales continued. “If ��ǿ�� chooses to take on any future debt for whatever reason, it will keep the university’s borrowing costs low as the A1 rating means we are a low credit risk.”

��ǿ�� has been rated A1 since 2010. The entire Moody’s report can be read with a subscription.

About ��ǿ��: Founded in 1968, ��ǿ�� 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 more information, visit .

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Contact

Trey Crumbie
crumbier1@nku.edu
859-572-5586

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