Standard and Poor’s Ratings Services recently assigned Illinois Central College a rating of AA+ in a report issued January 6 and delivered during the ICC board of trustee meeting January 16. The rating comes following the agency’s review of the college’s financial position, financial management practices and local economy.
The high credit rating validates the college’s strong fiscal management and good stewardship and also allows ICC to access credit at the lowest possible cost.
The report cites strong financial operations with strong reserves, good financial management practices, and low debt burden among the rationale for the high rating. With this rating, ICC can access lower cost debt to meet the growing demands of the district. As buildings age and program demands change, ICC is well positioned to make a low-cost investment in the facility that will provide greater returns for its students and community.