Monday, March 7, 2016

Eastern's credit rating knocked - KEVIN KILHOFFER, JOURNAL GAZETTE & TIMES-COURIER

Moody's Investors Service, a national credit rating provider, has downgraded Eastern Illinois University because of growing financial instability as result of a lack of state funding. The credit-rating company downgraded Eastern Illinois University's Auxiliary Facilities System Revenue Bonds to Ba1 from Baa3 and the Certificates of Participation to Ba3 from Baa3. These ratings are one and three levels below investment grade, which indicates that an entity has a low risk of default. They are also classified as junk bonds.

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