As AfroTech previously told you, Diddy pledged $1 million to the historically Black university at the BET Awards 2022. Before that, philanthropist MacKenzie Scott made a hefty $40 million donation.

Now, a report released by Moody’s Investors Service reveals total cash and investments to Howard soared to $880 million, a 21 percent increase, in the fiscal year 2021, with the endowment return, federal support, and total gift revenue of $64 million supporting the rise.

Moody’s has now changed Howard’s issuer rating to Ba1 from Ba2 after assessing the university’s operating performance, enrollment management, revenue, and liquidity gains.

“The upgrade of the issuer rating to Ba1 incorporates the university’s improving operating performance, more effective enrollment management, revenue growth and liquidity gains. Increased federal, state and private funds for Howard reflects a shifting societal trend for greater philanthropic and governmental financial support of the mission of minority serving institutions, a supportive credit element and key driver of the rating action,” said Dennis Gephardt, lead analyst at Moody’s, according to the report.

Moody’s Investors Service

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