State universities at risk from Illinois budget woes, S&P warns - Paul Merrion, Chicago Business

Standard & Poor's Ratings Services warned today that Illinois public universities are threatened by the state's pension liabilities and other budget pressures, which could reduce their financial support from the state and ability to borrow. Four universities that receive an above average amount of state financial support have A- ratings with a negative outlook, the same as the state's rating, which is the worst in the nation: Western Illinois University, Eastern Illinois University, Governors State University and Northeastern Illinois University. The University of Illinois remains relatively unscathed with a stable outlook on its AA- rating, three notches higher than the state's. Illinois State University's debt is rated A+ with a negative outlook, while Southern Illinois University's A rating has a stable outlook Among the seven state schools, U of I relies least on state support — only 31.6 percent of its revenues. Western, Eastern, Northeastern and Governors State rely on the state for 43.6 percent or more of their revenue. http://www.chicagobusiness.com/article/20140801/NEWS02/140809966/state-universities-at-risk-from-illinois-budget-woes-sp-warns