Reported 7 months ago
Houghton University, a 140-year-old liberal arts school in Western New York, had its credit rating lowered to junk status by S&P Global Ratings due to financial challenges including deficits and projected operating shortfalls in fiscal 2024. Despite facing financial pressure common among small liberal arts colleges, Houghton's stable outlook is supported by successful fundraising efforts, enrollment growth, and an improved endowment, with the university taking steps to strengthen its financial position by consolidating debt and implementing strategic plans.
Source: YAHOO