Moody's Investors Service provides credit ratings for hundreds of private and public colleges and universities--ratings that can strongly influence the interest rates higher-education institutions can obtain when they want to borrow money. How colleges are governed and managed are key determinants of those credit ratings, especially in an environment of limited resources. The five broad factors considered in a rating assessment of an institution are the composition of the board and senior administrative team, oversight and disclosure processes, short-term and long-term planning, self-assessment and benchmarking, and government relations. Institutions with strong governance and management practices will be able to maintain or strengthen their credit profiles in the future, despite a challenging economic landscape.