NJCU Financial Outlook Improves, Says Fitch

New Jersey City University (NJCU) has received a credit rating upgrade from Fitch Ratings, a major financial agency that evaluates how likely organizations are to repay debt. Fitch raised NJCU’s rating from ‘BB+’ to ‘BBB-’ on November 3, meaning the university is now seen as more financially stable than before.

Fitch said the upgrade was due to changes made by NJCU’s new leadership team, stronger financial oversight from the state, and progress toward merging with Kean University.

The upgrade follows a similar move by Moody’s Ratings in May, when it changed NJCU’s financial outlook from negative to positive.

Fitch noted that “significant expense cuts were implemented starting when a new interim president was appointed,” and that the university “repurposed or sold several non-core real estate parcels and vacated off-campus leases, reducing operations and maintenance costs.”

In fall 2025, NJCU’s enrollment increased for the first time since before the pandemic. Fitch noted that the school plays a key role in serving “a mostly Pell Grant-eligible, first-time in college, minority population of roughly 5,700 students.”

On October 1, NJCU signed an agreement to merge with Kean University. If approved by next summer, NJCU would become a Kean campus under the name Kean Jersey City. Fitch said the merger “will have stronger credit characteristics” than NJCU alone.

Andres Acebo, who became NJCU’s permanent president in July 2025, led the changes after being appointed interim president in 2023. Under his leadership, NJCU has “met or exceeded all the benchmarks” set by the state, according to Fitch.

“Fitch Ratings’ upgrade of New Jersey City University…affirms that our efforts have made a difference and that renewal is real,” Acebo said. “With a historic merger with Kean University on the horizon, this milestone reflects not just fiscal recovery and stability, but a shared vision of renewal, partnership, and purpose.”