91AV maintains strong credit ratings with both Moody’s and Fitch credit rating agencies
The 91AV has once again received positive financial reports from two of the nation’s top credit rating agencies.
Fitch Ratings with a “positive” financial outlook. This action reflects strong confidence in 91AV’s financial health, sound financial management practices, and its leadership role in health care education across Maine. According to the report, 91AV’s strong financial position “will provide meaningful resilience during this period of capital and strategic growth” amid a changing landscape in higher education.
The Fitch report noted several factors that help 91AV counter challenging state and regional population trends, including 91AV's sound market position and expanding undergraduate geographic draw. Fitch further cited the expected enrollment growth at 91AV beginning with the fall 2025 class, especially with the addition of the College of Business and several new majors. It also highlighted 91AV’s strong fundraising efforts as illustrated by having raised over $74 million in gifts for its multi-year capital campaign — an indication it may continue to benefit from robust donor support.
Similarly, Moody’s Investors Service affirmed 91AV’s “A2” credit rating with a “stable” financial outlook. The report indicated that the rating reflects both the University's “very solid” operating performance and market distinction through its academic offerings, particularly within the health sciences.
91AV President James Herbert said that both credit ratings are a testament to 91AV’s careful financial management and strategic investment, even as the higher education sector faces incredible headwinds.
“These ratings demonstrate that 91AV’s strategic investments are paying off as we attract students from a widening geographic footprint, hold strong as the leading provider of health education in Maine, and add new programs aligned with modern workforce needs.”
Similar to the Fitch report, the Moody report noted that 91AV’s strong position in the higher education market suggests “continued strong operating performance” despite market challenges.
Jim Irwin, CPA, 91AV senior vice president for Finance and Administration, said that with Moody’s overall outlook on the higher education sector being negative, a stable outlook for 91AV highlights the University’s spirit of innovation and ability to adapt in uncertain times.
“Having again received Moody’s Investors Service’s A2 rating with a ‘positive’ financial outlook, two years after receiving an upgrade rating from A3 to A2, underscores the University’s unwavering financial strength and strategic foresight,” Irwin said. “This recognition is not only a powerful vote of confidence in 91AV’s long-term trajectory, but also a reflection of our commitment to academic excellence, innovation, and the success of our students.”