Yeshiva University Wins Credit Upgrade With New President
Image by Getty Images
Yeshiva University received some positive financial news as the school prepares for new president Ari Berman to take the helm, with the Moody’s credit agency upgrading the institution’s financial outlook from “negative” to “stable.”
The university will “execute its plans and reach financially sustainable operations,” wrote the company, according to a report in the Commentator, the school newspaper. Furthermore, Moody’s expressed it confidence “that continued operational improvements will reduce the pace at which the university uses liquid reserves to fund structural cash deficits.” At the same time, Moody’s kept its rating on bonds from Yeshiva at B3, a “junk” rating that means it’s an extreme risk for investors.
Yeshiva has weathered financial trouble since the Great Recession, losing tens of millions of dollars a year in a crunch that has forced it to sell its medical school and a dozen buildings. Berman is a former pulpit rabbi from the Upper West Side.
Contact Daniel J. Solomon at [email protected] or on Twitter @DanielJSolomon
A message from our CEO & publisher Rachel Fishman Feddersen
I hope you appreciated this article. Before you go, I’d like to ask you to please support the Forward’s award-winning, nonprofit journalism during this critical time.
At a time when other newsrooms are closing or cutting back, the Forward has removed its paywall and invested additional resources to report on the ground from Israel and around the U.S. on the impact of the war, rising antisemitism and polarized discourse..
Readers like you make it all possible. Support our work by becoming a Forward Member and connect with our journalism and your community.
— Rachel Fishman Feddersen, Publisher and CEO
