Strong credit rating a positive reflection on the University and its role in transforming Western Sydney
Western Sydney University has achieved a strong Aa2 credit rating from the international credit rating agency, Moody’s Investor Service – marking the first time the University has been reviewed as part of the credit-rating process.
The credit rating follows a detailed review by Moody’s of key aspects of the University’s performance, including strategy, governance, research and academic position, international outlook, market position, financial results and budgeting, risk management and financial policy.
The announcement by Moody’s has been welcomed by the University as it continues to plan for the future with a number of important strategic initiatives underway. This includes the Western Growth strategy – an ambitious program of works that will reshape the University’s campus network.
Delivering new world-class, technology-enabled vertical campuses within key growth centres of Western Sydney is the centerpiece of the strategy, which aims to transform surrounding central business districts and create hubs for industry and community engagement.
Vice-Chancellor and President, Professor Barney Glover AO, said the credit rating reflects well on the University’s strategic plans and its role as an anchor institution embedded within the fastest-growing economy in Australia.
“As the longest-standing and largest tertiary institution in Greater Western Sydney, Western Sydney University has a proud history of delivering high-quality educational opportunities. Underpinning the University’s success is our world-class research that has demonstrable impact in the communities we serve.
“The credit-rating achieved significantly underpins our plans for the future, so we can continue to be flexible and responsive when it comes to serving the growing Western Sydney region and be a catalyst for economic and social prosperity,” said Professor Glover.
Vice-President (Finance and Resources), Mr Peter Pickering, said part of the Western Growth strategy involves the University developing and re-purposing up to 200 hectares of its non-core land, with proceeds to be invested back into the University Corpus so it can build cash reserves to fund new opportunities in teaching, learning and research.
“The re-investment back into the University ensures our institutional sustainability, and allows us to continue the significant work we are undertaking to transform our curriculum, reshape our campus network and build on our research strengths by investing further in our research capacity,” said Mr Pickering.
ENDS
19 June 2019
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