Concordia University: Rating Report

On November 20, 2023, DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and Senior Unsecured Debt rating of Concordia University at "A." All trends are Stable. The credit ratings reflect Concordia's academic profile and the high level of support and oversight in post-secondary education exercised by the Province of Québec (rated AA (low) with a Stable trend by DBRS Morningstar). The ratings also reflect ongoing budgetary pressures amid an increasingly challenging operating environment and rising debt.