UMaine System maintains favorable credit outlook
ORONO, Maine (AP) — The University of Maine System has retained its credit rating this year, system officials said Thursday.
The state’s largest public university system is rated AA- by S&P Global. That means the system has very strong capacity to meet its debts according to S&P Global’s rating system.
A report from the credit rating agency said the system’s management “maintains a disciplined debt policy” and “adapts to the challenging demographics of Maine through newly developed initiatives.”
The system has taken steps to carefully steward its resources during the coronavirus pandemic, Chancellor Dannel Malloy and other university officials said in a statement.
The system was helped by a $240 million pledge by the Harold Alfond Foundation. The money will be used to spur innovation over the coming years, officials said.