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ISU Pleased With Unchanged Credit Rating

Wed, 09 Apr 2014 16:58:52 CDT
By: Charlie Schlenker

Moody's Investors Service has left Illinois State University's credit rating unchanged with a negative outlook. The agency says ISU remains dependent on state funding which amounts to about 20% of the total budget and 40% of the university's General Fund Budget and the state continues to delay payments to all public universities. Moody's says ISU has improving liquidity and a demonstrated ability to maintain favorable cash flow and good debt service, despite the state delays. The negative outlook comes from potential reductions in future state operating funding from budget pressures and declining numbers of high school graduates available to enter higher education. ISU officials say the rating is better than all state public universities except the University of Illinois.

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