Fitch Ratings has upgraded Daemen University’s NY Issuer Default Rating (IDR) from BBB- to BBB with an “outlook: stable” assessment, signaling its ongoing confidence in the institution’s economic resilience. 

All three credit rating agencies — Fitch, Standard & Poor’s, and Moody’s — have projected negative outlooks in the higher education industry, which makes Daemen’s upgraded rating significant. It comes at a time when the three agencies have downgraded many universities nationwide, including some elite universities such as Columbia University and Brown University. 

“Given the negative impact that the enrollment cliff and recent changes in laws and regulations are having on universities nationwide, I am quite proud of our upgraded rating,” said Daemen President Gary A. Olson. “We continue to lead with innovation while making responsible investments in the institution to ensure a sustainable, successful future.”

Credit rating agencies evaluate the overall financial health of higher education institutions, providing insight into their borrowing costs, strategic flexibility, and overall market reputation. Daemen received its first “investment-grade” rating in 2018 and has maintained it ever since.