York College receives "A" rating from Standard & Poors

Posted September 13, 2005
FOR IMMEDIATE RELEASE

York College of Pennsylvania announced that Standard & Poor’s Rating Services has upgraded the College’s bond rating to "A" from "A-" for its outstanding dormitory construction bonds and also assigned an "A" rating to the bonds that the College expects to issue later this fall to build three more residence halls.  York College thus becomes one of a small number of private colleges in Pennsylvania to have an "A" rating.

Standard & Poor’s commented that the upgrade reflects good operating performance, growth in the College’s endowment, and the successful completion of several self-funded projects with no additional debt anticipated in the near future.

They further commented that the rating reflects good liquidity levels, a steady increase in enrollment, low tuition discounting, a proactive management team, and an attractive, well maintained campus.

Commenting on the announcement by Standard & Poor’s, Dr. George Waldner, President of the College, said, "We are very pleased with the "A" rating that Standard & Poor’s has provided. We believe that this is the result of the efforts of our faculty, administrators and staff in working to meet the mission of the College, which is to provide a quality education at an affordable cost. We believe that this rating is reflective not only of our current financial strength but also of the College’s ability to be a successful organization going forward. We are committed to focusing on the factors that have made us successful to date while being proactive in meeting the ever changing needs of our students."

York College of Pennsylvania is a private, coeducational institution enrolling 4,400 full-time and 1,000 part-time students in more than 50 baccalaureate degree programs in the arts and sciences and master’s degree programs in selected professional fields.

Inquiries regarding this release should be directed to Mr. Robert P. Newcomer, Dean of Business Affairs and Chief Financial Officer at 717-815-6457.

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