Simon Fraser University: Rating Report

On September 26, 2022, DBRS Limited (DBRS Morningstar) confirmed Simon Fraser University’s (SFU or the University) Issuer Rating and Senior Unsecured Debt rating at AA (low) with Stable trends. The ratings reflect SFU’s solid academic profile as a leading comprehensive university in Canada, its historically low debt burden, and its favourable location in the Metro Vancouver region. The ratings are constrained by large deferred maintenance needs as well as by limited fee-setting autonomy and funding growth.