LITTLE ROCK — Henderson State University’s financial stability has improved “dramatically” since 2019, the Arkansas State University System Board of Trustees heard in a meeting Friday, Dec. 13, 2024.
Julie Bates, the ASU System’s executive vice president, reported on a solid financial condition of the system as a whole, noting in particular that Moody’s Ratings had reaffirmed an A1 rating for ASU bonds and upgraded Henderson to Baa1 with a stable outlook. A Baa1 rating is Moody’s eighth-highest rating and indicates a moderate credit risk.
Henderson’s financial stability has improved since 2019 with some $20 million in expense reductions that have resulted in progress from just seven days’ cash on hand at the end of FY-2019 to 98 days at the end of FY-2024, Bates said.
In regional ASU System business, trustees approved ASU Three Rivers to proceed with renovation and expansion of a campus facility that will house a new 7,900-SF workforce center in Malvern. The $2.97 million project will support electrical and millwright training programs with classrooms and robotics equipment.
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