CIM’S credit rating affirmed by Standard & Poor’s

Major orchestras aren’t the only ones acknowledging the CIM Advantage. A major credit rating agency also sees enduring strength in the institution. 

Late last month, CIM received an affirmation from the Standard & Poor’s Global Ratings Agency of its BBB- credit rating and earned a “stable” outlook. The rating is a favorable mark that characterizes CIM as an “investment-grade” entity.  

More specifically, the two marks represent a positive evaluation of CIM through the lens of bonds and other debt securities which bank regulators and market participants view as potential investments for financial institutions. New York-based Standard & Poor’s is one of the nation’s largest credit rating agencies and a leader in financial research.  

“This rating and outlook affirmation is a tremendous encouragement to the CIM community and donors who commit themselves so selflessly and generously to CIM‘s future,” said Paul W. Hogle, CIM’s President and CEO.  

“It is a clear indication that what has made CIM a destination in the music world for more than a century also makes it an attractive philanthropic and commercial investment.” 

While praising the school’s disciplined approach to setting and achieving strategic goals, the Standard & Poor’s affirmation released July 26 points to CIM’s student body, saying the BBB- rating stems from “healthy student characteristics such as retention and matriculation rates that are stronger than similarly rated peers.”  

In addition, the agency endorsed CIM’s leadership, citing a “proactive and experienced management team, with expertise within the music education industry.”  

“S&P’s affirmation of our rating speaks to CIM’s commitment to be financially sound and forward-looking,” said Brian Foss, CIM’s Chief Financial Officer.