Bangkok--28 Feb--Standard & Poor's
Standard & Poor's Ratings Services will hold a live teleconference and Q&A on Wednesday, March 2, 2011, at 1:00 p.m. Eastern Standard Time to discuss its recent report, "U.S. Independent Schools' Fiscal 2010 Ratios: The Challenge of Achieving Financial Stability." Ratings analysts with Standard & Poor's Higher Education group will lead the discussion including Mary Peloquin-Dodd, managing director and senior analytical leader; Blake Cullimore, associate director; and Nick Waugh, associate.
Standard & Poor's expects U.S. independent schools' credit trends and industry fundamentals to remain fairly stable in 2011, but says that achieving financial stability amid rising costs will become a bigger challenge for such schools. The report states that most rated independent schools achieved balanced-to-surplus net operating income in fiscal 2010, and that schools expect to achieve slightly smaller operating margins for fiscal 2011. However, the report also states that most schools that achieved balance and positive operating results in 2010 did so through substantial cost reductions.
"We believe the challenge for these schools beyond fiscal 2011 will be to enhance their revenues in a sustainable manner in line with the rising costs of financial aid operations," says Mr. Cullimore.
The report states that one of the broader sector trends is that schools are shifting from their short-term responses (salary freezes and cost cutting) to the recession, and are adjusting their strategies for the longer term. Standard & Poor's believes the next couple of years will likely demonstrate whether these strategies are successful or whether schools must reassess their business plans to attain a sustainable business model.
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Conference ID#: 1594010
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Replay numbers:
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Media Contact:
Ana Sandoval, New York (1) 212-438-5095,
[email protected]
Analyst Contacts:
Mary Peloquin-Dodd, New York (1) 212-438-2079
Blake Cullimore, Boston (1) 617-530-8312
Nick Waugh, Boston (1) 617-530-8342