Trent University: Rating Report

DBRS Limited (DBRS) confirmed the Issuer Rating and Senior Unsecured Debentures rating of Trent University (Trent or the University) at “A” with Stable trends. The ratings reflect Trent’s academic profile as a leading undergraduate university in the Province of Ontario (Ontario; rated AA (low) with a Stable trend by DBRS), robust enrolment growth, a relatively low debt burden and a stable revenue base. The ratings are constrained by a low level of expendable resources, capacity constraints that are likely to limit future growth and significant provincial policy uncertainty that could adversely affect the University’s finances.