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ISU spared credit downgrade

Tue, 19 Mar 2013 21:41:23 CDT
By: Charlie Schlenker

Moody's Investor's Services has downgraded the credit ratings of several Illinois Public Universities. But, Illinois State University is not one of them. ISU's Vice President for Finance and Planning Dan Layzell says he believes a key difference is ISU's stability at a time when many institutions are seeing falling numbers of applications and admissions.

Moody's reviewed all Illinois Public Universities because of the unaddressed state pension backlog. Moody's left ISU's credit rating the same with a negative outlook, but downgraded Northern, Eastern, Governor's State, and Northeastern Illinois Universities. The decision will cost those universities more money in interest when they issue bonds to cover the cost of borrowing for projects.

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