Moody's Investors Service has downgraded Hartwick College's (NY) issuer and debt ratings to B1 from Ba3. The outlook remains negative. Hartwick has total outstanding debt of about $37 million.RATINGS RATIONALEThe downgrade of Hartwick College's issuer rating to B1 from Ba3 reflects an escalation of student market difficulties, resulting in deepening operating deficits and declining liquidity.
