Wednesday, November 4, 2015

Six Illinois Universities Downgraded Amid Budget Gridlock - YVETTE SHIELDS, Bond Buyer

Six of Illinois’ eight public universities took a fresh credit blow from Moody’s Investors Service with downgrades stemming from exposure to the state’s fiscal strains and its budget crisis. The downgrades late Monday affect $670 million of outstanding debt. Several campuses were hit with multi-notch downgrades and three are now rated at the lowest investment grade level. Moody’s downgraded Northern Illinois University, Southern Illinois University, Eastern Illinois University, Western Illinois University, Governor’s State University, and Northeastern Illinois University. All carry a negative outlook. Moody’s spared Illinois State University and the state’s flagship University of Illinois from downgrades.

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