Moody's upgrades Northeast Iowa Community College’s bonds and certificates rating

Tuesday, April 19, 2022

NEW YORK—Moody's Investors Service has upgraded Northeast Iowa Community College’s credit rating from Aa2 to Aa1 for its outstanding general obligation unlimited tax (GOULT) debt.

The Aa1 rating reflects the College's continued strong financial performance, continued strengthened reserves and diverse stable tax base. 

The upgraded evaluation also reflects the College’s annual strategic plan execution and its established active budgeting process, which has led to sound annual financial performance and strengthened financial position, according to Dave Dahms, NICC vice president of finance and administration.

“Northeast Iowa Community College has a low debt burden and our long-term capital planning and budgeting allows us to leverage resources internally. This ensures resources are available to serve the community and students, and continue our good financial stewardship of public funds,” Dahms said.

The College’s ability to grow fund balances and financial reserves will provide funding for NICC to grow strategically and withstand potential future economic challenges.