Fitch Ratings awards UNE 'very high' credit quality, citing strong financial positioning

Fitch Ratings, one of three major credit rating agencies covering the higher education sector, has upgraded the University of New England’s issuer default rating from “A+” to “AA-” with a “stable” outlook, reflecting the University’s long record of disciplined financial stewardship, strategic growth, and leadership in workforce-aligned education.

The upgrade recognizes UNE’s strong market position, expanding geographic reach, and role as Maine’s largest provider of health professionals. Fitch analysts also cited the University’s long history of prudent financial management, strong operating performance, and responsiveness in aligning academic programs with evolving workforce needs.

Under Fitch’s rating scale, institutions receiving ratings in the “AA-” category are considered to have very high credit quality — one tier above the “A+” category, which denotes high credit quality.

According to Fitch’s report, UNE’s position as a leader in health professions education and responsiveness to market demand support the University’s long-term enrollment outlook and financial strength. The agency stated it expects UNE to “sustain demand and net tuition revenue over time,” supported by UNE’s leading position in Maine for health professions and its responsiveness in aligning programs with market needs.

Fitch also pointed to UNE’s continued enrollment momentum: Overall enrollment rose again in 2025, marking the third consecutive year of gains, which were driven by strong growth in graduate programs. Continued enrollment expansion is expected through the University’s recently established College of Business, the introduction of additional academic offerings, and UNE’s ability to attract students from a widening geographic footprint. 

UNE is again expected to surpass the previous years’ enrollment, with deposits for the fall 2026 semester up approximately 17% when compared to this time last year, University officials said, also noting applications are up across the board for both undergraduate and graduate programs.

UNE President James Herbert said the upgraded rating is especially meaningful at a time when colleges and universities nationwide continue navigating increasing demographic and financial challenges.

“Receiving a credit upgrade in today’s higher education environment reflects the collective efforts of our entire University community and the strength of UNE’s long-term strategy,” Herbert said. “As institutions across the country face increasing financial challenges, we have remained focused on thoughtful planning, careful stewardship, and creating programs aligned with workforce and societal demands, from healthcare and business to research and professional partnerships. That discipline is building momentum that positions UNE and our students for continued success.”

The strengthened rating comes during a period of strategic investments designed to address workforce needs across Maine and New England. 

Nearly a year after its opening in June 2025, the Harold and Bibby Alfond Center for Health Sciences on UNE’s Portland Campus for the Health Sciences continues to advance the University’s role in preparing the next generation of health professionals. The facility allows UNE to increase enrollment at Maine’s medical school by 21%, from 165 to 200 students per class, and graduate an additional 35 physicians annually to help address critical workforce shortages.

Beyond health professions education, UNE last week celebrated the first graduating class from its College of Business. Established in 2023, the UNE College of Business has rapidly expanded its workforce offerings through experiential learning opportunities and industry partnerships, reflecting UNE’s broader strategy of connecting academic programs with emerging industry needs and career pathways.

Such ventures include research and internship affiliations with Maine-based sports franchises and hospitality enterprises; interdisciplinary centers dedicated to the study of sales and sport business excellence; and a growing roster of programs focused on meeting the needs of Maine’s economic landscape, such as supply chain management, entrepreneurship, and innovation within Maine’s robust outdoor sector.

UNE has continued to receive strong assessments from multiple national credit agencies. In 2025, Moody’s Investors Service affirmed the University’s “A2” credit rating with a stable outlook, citing UNE’s “very solid” operating performance and market distinction through its academic offerings, particularly within the health sciences.