HARRISBURG, Pa. – On Oct. 16, 2024, HACC, Central Pennsylvania’s Community College, received an upgraded bond rating from S&P Global Ratings. HACC’s bond rating was raised from an “A-” to “A,” signaling that the outlook on all College debt is stable. This higher bond credit rating lowers future interest rates and financing costs for future borrowing and provides increased confidence in the College’s ability to manage and repay debt proactively.
“HACC’s upgraded bond rating is a reflection of our financial stability and continued growth. This positive rating highlights our commitment to maintaining a strong financial foundation and underscores the confidence in our strategic initiatives and future,” said John J. “Ski” Sygielski, MBA, Ed.D., president and CEO of HACC. “Together, we are building a stronger, brighter future for HACC and the 11 counties we serve.”
S&P Global Ratings Credit Analyst Mel Brown said, “The upgrade reflects a trend of healthy net operating margins, which we expect to continue, and material improvements in financial resources over the past few years supporting a credit profile consistent with a higher rating level.”
The stable outlook reflects S&P Global Ratings’ view that HACC will maintain structurally balanced operations, a solid liquidity position and stable enrollment, which will all contribute to the College’s continued success.
About HACC
HACC, Central Pennsylvania’s Community College, is the first and largest of Pennsylvania’s 15 community colleges. HACC offers approximately 100 career and transfer associate degree, certificate and diploma programs to approximately 12,000 students. Also, the College serves students at its Gettysburg, Harrisburg, Lancaster, Lebanon and York campuses; through virtual learning; and via workforce development and continuing education training. For more information on how HACC is uniquely YOURS, visit hacc.edu. Also, follow us on X (@HACC_info), follow us on Instagram (@HACC_edu), like us on Facebook (Facebook.com/HACC64) and use #HACCNews.
About S&P Global Ratings
S&P Global Ratings is the world's leading provider of independent credit ratings. Our ratings are essential to driving growth, providing transparency and helping educate market participants so they can make decisions with confidence. We have more than 1 million credit ratings outstanding on government, corporate, financial sector and structured finance entities and securities. We offer an independent view of the market built on a unique combination of broad perspective and local insight. We provide our opinions and research about relative credit risk; market participants gain independent information to help support the growth of transparent, liquid debt markets worldwide. S&P Global Ratings is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.spglobal.com/ratings.