University of Montevallo receives upgraded rating from Standard & Poor's

The University of Montevallo has announced that Standard and Poor's Ratings Services recently upgraded the long-term rating for the University from "A-" to "A." S & P notes the outlook as stable.

"In a time of economic challenge when many colleges and universities are being downgraded, we are pleased to have received the upgrade," stated DeAnna Smith, vice president for business affairs at UM. "I'm privileged to work with a campus community who are excellent stewards of University resources and have embraced our financial health goals. To be able to continue to offer the high-quality education for which Montevallo is known, while enduring the sharp reductions in state funding, and still be recognized for our financial health is gratifying."

According to UM, the report cited increased demand and enrollment in its rating decision, "noting that as the only public liberal-arts university in Alabama, Montevallo serves a niche market, with potential students exhibiting a degree of self-selection in their decision to apply." Freshman applications are up 22% during the last four years. {}The University says the S & P "also noted that they consider tuition for a full-time, in-state student ($9,330 for the 2013-2014 academic year) very affordable."