NEWS
Monday, August 18, 2003
It seems the only thing holding back the U-M athletic department from a $100 Million orgy of new and upgraded facilities on the athletic campus is a lack of cash, and an unwillingness to go into serious debt like rival Ohio State University. The result? Teams and coaches are increasingly expected to fundraise and recruit donors for facilities improvements as University bean counters jealously guard its hard-earned bond rating: U-M holds a triple-A bond rating and "stable" outlook from Moody's. It is one of only 19 universities - and one of only three public universities -holding this highest possible rating, which draws investors and ensures the university of getting the lowest possible interest rate on its borrowings."> A2 'Business Direct Weekly': "U-M's punt on debt may be wise", "U-M coaches build teams of donors"
Posted by Rob at 2:03 PM
