S&P Global Ratings has affirmed its long-term rating of BB- and has noted that the College’s outlook is stable.
This affirmation comes despite the uncertainty that the COVID-19 pandemic is causing across the country and the globe. In submitting its rating report for Sweet Briar, S&P noted that many other higher education institutions saw their ratings revised to negative in the wake of the uncertainties surrounding the economic fallout of the pandemic. That Sweet Briar’s rating and outlook are stable is directly tied to the commitment of the administration to the prudent use of the College’s financial resources. “While there is high uncertainty regarding the duration and extent of the COVID-19 pandemic, we believe that Sweet Briar College has taken prudent steps to address its COVID-19 concerns,” S&P Global said in the rationale for its rating.
“We’re grateful that S&P Global has affirmed their stable rating for Sweet Briar in an unprecedented year for higher education,” said President Meredith Woo. “This reinforces the confidence that our alumnae and friends have already shown in the College through their generous support.”