S&P Global Ratings Assign UCM ‘A+’ Long-term Rating for Eighth Year

By Alex Greenwood, February 25, 2026

 

 

The University of Central Missouri (UCM) has received a long-term rating of “A+” from S&P Global Ratings for the eighth consecutive year regarding its Missouri Health & Educational Facilities Authority Series 2018A, 2018B and 2023 educational facilities revenue bonds. In addition, as a result of UCM’s dedication to sound financial operations, the rating continues to include a stable outlook.

 

In its rating action, S&P Global noted, “The stable outlook reflects our view that, despite recent enrollment and operational pressures, the university’s healthy financial resources and moderate debt burden will continue to support the current rating. Although we expect full-accrual operating deficits could persist during the outlook period, historically, UCM has had a conservative approach to financial management, and we expect operations will remain at least break-even on a cash basis.”

S&P Global Ratings provides a forward-looking opinion about a borrower’s creditworthiness and ability to repay debt using a letter-grade system. “AAA” is the very best rating that can be given for a borrower’s ability to repay long-term bonds. A long-term credit issue rating of “A” means that the organization being rated is more susceptible to adverse effects of changes in circumstances and economic conditions than obligations in higher-rated categories, but the borrower’s ability to meet its financial commitments is still strong.

 

At the end of fiscal year 2025, UCM’s total debt outstanding equaled approximately $64.9 million, including $38.9 million in fixed-rate, long-term debt across the Series 2018A, 2018B and 2023 bonds. Total debt also includes $20.6 million in leases, $4.2 million in SBITA and $1.1 million in various notes.

 

“To maintain an ‘A+’ rating for an eighth consecutive year with a stable outlook demonstrates the university’s commitment toward good stewardship of our limited financial resources,” said Bill Hawley, vice president for finance and operations at UCM.

Rex Vanatta, controller, added, “The institution’s financial sustainability is key to our ability to focus on student success and academic excellence. This rating reflects that sustainability as well as our ability to secure financing for potential future projects that will benefit our students.”