S&P shifts Northwestern outlook to 'negative' - LYNNE MAREK, Chicago Business

The agency cited "weaker operational results during the past two years" in changing its outlook but maintained its top investment-grade AAA rating on the university's long-term bonds. “The outlook revision reflects the university’s weaker operational results during the past two years compared with historical operating results, with projections that this will continue in fiscal 2019 and fiscal 2020, and the institution’s expectation of increasing short-term debt outstanding,” the ratings agency said in a statement yesterday. https://www.chicagobusiness.com/education/sp-shifts-northwestern-outlook-negative