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Oct. 20, 2021 —  �������� has retained its A1 credit rating in the latest report by Moody's Investors Service, confirming ��������’s stable financial future.

The decreased pension payments to the Kentucky Employees Retirement Systems (KERS) was a contributing factor to ��������’s A1 ranking. to exit KERS last year, �������� will reduce its future pension payments by $4.5 million each year.

“�������� was spending over 8.5% of its operating budget on pension payments for the combined defined benefit and defined contribution plans before the university opted out,” said NKU Chief Financial Officer Mike Hales. “With the university now spending significantly less on pension benefits, �������� can use that money for a plethora of other uses.”

The rating solidifies ��������’s financial stability by exchanging uncertain future pension contribution increases for consistent bond payments over the next 30 years.

“The rating also has long-term financial implications for ��������,” Hales continued. “If �������� chooses to take on any future debt for whatever reason, it will keep the university’s borrowing costs low as the A1 rating means we are a low credit risk.”

�������� has been rated A1 since 2010. The entire Moody’s report can be read with a subscription.