Education

HSU: Refinancing long-term debt could save college $3M by 2023

A bonds service is expected to save Henderson State University $500,000 this fiscal year and upwards of $2.5 million for 2022-2023.

Henderson chancellor Chuck Ambrose said Friday in a letter to faculty and staff that Moody’s Investors Service may be able to help the university refinance bonds associated with its long-term debt.

Henderson’s bond financing status has been upgraded under its membership with the Arkansas State University System. Prior to that, Henderson’s status had been downgraded in 2019 from its previous status and given a “negative outlook” based on depleted capital reserves.

“This is a strong, third-party validation by a very reputable global research firm that we are taking steps in the right direction financially with Henderson State,” said Dr. Chuck Welch, ASU System president.

Read Ambrose’s letter as posted on Henderson’s website:

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