Governors State downgraded to junk status, ISU also hit - Capitol Fax (from Standard and Poor's)

S&P Global Ratings lowered its underlying rating three notches to ‘BB+’ from ‘BBB+’ on Governors State University Board of Trustees, Ill.’s series 2007 and 2012 university facilities system (UFS) revenue bonds and series 2008 and 2009 certificates of participation (COPs), issued on behalf of Governors State University (GSU or the university). The outlook is negative. “The downgrade and negative outlook reflect our view of Illinois’ ongoing severe challenges. S&P Global Ratings lowered its long-term rating to ‘A’ from ‘A+’ on Illinois State University Board of Trustees’ auxiliary facilities system (AFS) revenue bonds. In addition, we lowered our long-term rating and underlying rating (SPUR) on existing bonds and certificates of participation (COPs), issued on behalf of Illinois State University (ISU), to ‘A’ from ‘A+’. The outlook, where applicable, is negative. http://capitolfax.com/2016/08/05/governors-state-downgraded-to-junk-status-isu-also-hit/