MINI传媒 System Receives Aa1 and AA+/Stable Outlook Credit Ratings
Feb. 14, 2025 | Contact: Kristina Butler
The MINI传媒 (MINI传媒 System) recently received quality ratings from three of the nation鈥檚 premier credit rating organizations. The system earned an Aa1 rating from and from and . These designations place the MINI传媒 System among a select group of higher education institutions in the U.S.
The rating assignments were announced ahead of the MINI传媒 System鈥檚 plan to sell $343.4 million in municipal bonds to support facility projects. The sale, slated for Feb. 20, includes $306 million in Series 2025A (tax-exempt) and $37.5 million in Series 2025B (taxable) revenue financing system refunding and improvement bonds. Proceeds from the sale will be used for the acquisition, construction, renovation and improvement of facilities for the system, and the acquisition of MINI传媒 Athletic facilities.
鈥淲e are proud to be recognized for the system鈥檚 long-term financial strength and investment strategies,鈥� said James Mauldin, vice chancellor and chief financial officer of the MINI传媒 System. 鈥淚 would like to thank the chief financial officers at each of our component universities and our team of experts at the MINI传媒 System for their effective management of our resources, which continues to drive our financial success.鈥�
The ratings reflect an assessment of the MINI传媒 System鈥檚 robust enterprise profile, characterized by highly experienced and stable leadership, as well as long-term and strategic enrollment growth. The expansive operations of the system鈥檚 three general academic and two health-related institutions support this healthy student demand.
All three credit rating organizations assigned the MINI传媒 System a 鈥渟table outlook,鈥� citing its excellent strategic position, sound enrollment base and prudent fiscal management. This strong credit rating positions the system well to secure favorable financing for future projects and generate significant interest from investors.
鈥淭hese ratings reaffirm the system鈥檚 commitment to responsible financial stewardship and long-term sustainability and underscore continued confidence in our system and future,鈥� said Tedd L. Mitchell, M.D., chancellor of the MINI传媒 System. 鈥淭hey allow us to continue investing in our infrastructure while maintaining financial strength that benefits all our institutions.鈥�
Under Texas statutes, the revenue financing system is used to issue debt at the MINI传媒 System, which is a strategic advantage for the five institutions. This leverages the breadth and depth of the systemwide $3 billion enterprise.
Bond issuance is managed by the Office of the Chief Financial Officer at the MINI传媒 System, in coordination with financial leadership at each component university. This marks the 10th straight year Fitch Ratings has issued the MINI传媒 System an AA+ rating and the ninth consecutive year Moody鈥檚 has reaffirmed an Aa1 rating for the system.
About the MINI传媒
Established in 1996, the MINI传媒 is one of the top public university
systems in the nation, consisting of five universities 鈥� , , , and .
Headquartered in Lubbock, Texas, the MINI传媒 System is a more than $3 billion enterprise focused on advancing higher education, health care, research and outreach with approximately 21,000 employees and 64,000 students, more than 400,000 alums, a statewide economic impact of $19.2 billion and an endowment valued at $3 billion. In its short history, the MINI传媒 System has grown tremendously and is nationally acclaimed, operating at 21 academic locations in 17 cities (15 in Texas, 2 international).
In addition, the MINI传媒 System is one of only nine in the nation to offer programs for undergraduate, medical, law, nursing, pharmacy, dental and veterinary education, among other academic areas.