After a sharp drop in 2020, as a result of border restrictions for different nations and national Coronavirus Disease (COVID-19)-related strategies, international student recruitment at Canadian universities is again on the rise. As the pandemic unfurled, universities were prompted to close campuses and shift to remote learning, forcing thousands of international students to take the majority of their courses online or choose to defer enrolment. While the trend may persist longer in other parts ...
Ontario universities saw a flurry of applications from Ontario secondary school students, also known as the 101s or domestic students, according to the latest statistics from the Ontario Universities’ Application Centre. These figures do not include nonsecondary school applicants (i.e., mature students and transfer, international, and out-of-province students), which will be reported on in April. The February 2022 numbers point to an 8.4% increase in the total number of applications compared wit...
On November 30, 2021, DBRS Limited (DBRS Morningstar) confirmed the University of Ontario Institute of Technology’s (the University or Ontario Tech) Issuer Rating and Series A Senior Unsecured Debentures rating at A (low). Both trends are Stable. In recent years, the University’s credit profile has been supported by a strengthening academic profile, ongoing student demand for its science, technology, engineering, and mathematics program offerings, positive operating results, and debt reduction. ...
While many jurisdictions across Canada continue to grapple with the fourth wave of the Coronavirus Disease (COVID-19) pandemic, for public universities, the faster-than-anticipated vaccine roll-out and high inoculation rates are supporting a cautious return to in-person learning and other on-campus activities. With this increased campus presence, higher utilization of ancillary services are expected to financially benefit institutions. In-person learning and greater access to campus facilities a...
On March 19, 2021, the Province of Ontario announced $44.0 million in new targeted funding for universities it considers to be the most severely affected by the Coronavirus Disease (COVID-19) pandemic. The new funding comes in the midst of ongoing operating and financial challenges facing postsecondary institutions in the Province. While this funding is temporary and unlikely to affect credit ratings, DBRS Morningstar acknowledges that this funding will relieve some of the near-term budgetary pr...
On December 3, 2020, DBRS Limited (DBRS Morningstar) confirmed the University of Ontario Institute of Technology’s (the University or Ontario Tech) Issuer Rating and Series A Senior Unsecured Debentures (the Debentures) rating at A (low). Both trends are Stable.
The coronavirus pandemic has led to a rapid shift to remote learning, considerably reduced on-campus activity, and an uncertain enrolment outlook in Canadian post-secondary education. However, earlier fears that domestic and international enrolment would fall sharply have not materialized for Canadian universities that DBRS Morningstar rates.
The Coronavirus Disease (COVID-19) pandemic has had a near-term negative impact on Canadian universities because of travel restraints, physical distancing, and mandatory shutdowns, all of which affect how they traditionally operate. Ratings are not likely to decline under DBRS Morningstar's moderate case economic scenario. However, if current conditions persist to the end of 2020, the pandemic may have a significant effect on university credit profiles and, without offsetting government financia...
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