Tuesday, November 10, 2015

Illinois budget woes keep getting worse - Quad Cities Times Editorial

Another week, and more bad news for Illinois. First, Moody's Investors Service lowered credit ratings for Western Illinois, Eastern Illinois, Governors State, Northeastern Illinois, Northern Illinois and Southern Illinois universities. The agency acted because of the ongoing impasse over the budget, which was supposed to be in place by July 1. The action will increase the cost of borrowing for the universities, although several of them said they don't plan additional borrowing at this time. "But from a reputation standpoint, it doesn't look good," said Paul McCann, interim vice president for business affairs at Eastern Illinois University. The previous week, Moody's further downgraded the state's rating, which already was the lowest in the nation. http://qctimes.com/news/opinion/editorial/illinois-budget-woes-keep-getting-worse/article_1983b644-4ed8-5ab7-9c40-f21c9e3d09af.html

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