River Grove, Ill. – Triton Community College has received an “Aa1” investment rating from Moody’s Investment Service.  Moody’s is renowned as the leading global firm that provides a system which is used to gauge the creditworthiness of a company or governmental entity by determining the credit risk to investors.  Moody’s granted Triton an “Aa1” global rating – meaning Triton is “judged to be of high quality and subject to very low credit risk” and “has superior ability to repay short-term debt obligations,” according to Moody’s website.  This “Aa1” rating is the second highest available rating of the 16 levels in the Moody’s bond rating system.

Triton College plans to sell $53,000,000 in bonds in order to modernize Triton’s campus and create many new exciting job creation opportunities for the residents of the west suburban area.  The new dollars will position Triton as a leader in the economic development of the district.

Triton College Board of Trustees Chairman Mark Stephens had the following reaction to the Moody’s rating.  “The Board is extremely pleased with the “Aa1” rating from Moody’s.  As a result, Triton will save millions of taxpayer dollars on our modernization plans.  Triton College prides itself on its fiscal diligence, and this rating reinforces the fact that we are good stewards of student and taxpayer dollars.  The time is now to reinvest in our most valuable commodity; the residents and students of the Triton College district.  We will rebuild Triton’s infrastructure to educate our students for the jobs of the 21st century market.”

Garrick Abezetian, Associate Vice President of Finance at Triton College, indicated; “This high investment grade was as we expected based on Triton’s strong financial position.  It ensures Triton will be able to fund these proposed projects at a very low interest rate. This proposed offering will be very attractive to potential investors that desire a high-grade, low-risk investment.”

During this past summer, through a series of public community presentations throughout the Triton district, Triton College presented a proposal to rebuild its campus to address the needs of its students, and to prepare them for a highly competitive world economy.  At these meetings, the citizens of the district were invited to help Triton prepare for the future by offering their suggestions.  The college looks forward to continued input from the public as the project moves forward.

Economic development is the common theme of many of Triton’s new proposals.  Training students for the jobs of tomorrow is the prime objective.  Some of the proposed renovation plans include modernizing the Child Development Center with an integrated childcare program and a lab school teaching environment for Triton students.  In addition, Triton is proposing to update the Student Center, modernize Triton’s on-campus greenhouses, improve academic and athletics facilities on the East campus, and construct a demonstration kitchen and bistro lab for Triton’s hospitality students.

These renovations will provide students with a learning environment conducive to their education that furthers the college’s mission of contributing to student success.

Triton College is currently going through the process to secure $53 million worth of bonds to fund the multiple proposed projects.  The Triton College Board of Trustees is scheduled to vote on this proposal at the September 23, 2014 regularly scheduled Board meeting.

Since 1909, Moody’s has provided credit ratings, research, tools and risk analysis that contribute to transparent and integrated financial markets for businesses worldwide. For more information about Moody’s, visit www.moodys.com.

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