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Diddy, MacKenzie Scott Among Donors Boosting Howard University's Bond Rating

  • Sean ‘Diddy’ Combs announced $1 million donation at BET Awards
  • Howard’s endowment has increased to $795 million in FY 21
Sean “Diddy” Combs
Sean “Diddy” CombsPhotographer: Frazer Harrison/Getty Images
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Aid to Howard University from the federal government and wealthy donors that include musician Sean “Diddy” Combs helped boost the school’s credit rating in the municipal-bond market.

Moody’s Investors Service upgraded the historically Black college in the nation’s capital one notch to Ba1 from Ba2 and revised its outlook to stable from negative. The upgrade applies to about $49 million of taxable revenue bonds. It’s the first upgrade for the school by Moody’s since 2004.