Ratings agency downgrades credit of SIU, 5 other Illinois universities

The Illinois’ continued state budget problems have prompted S&P Global Ratings to downgrade the credit worthiness of six state universities and the City Colleges of Chicago.
    
The credit house said it took action Thursday with the schools because it’s possible lawmakers and Gov. Bruce Rauner will fail to agree on an annual budget by the scheduled end of the legislative session May 31.
    
S&P downgraded the state-flagship University of Illinois to A from A-plus. It said it was keeping the rating three notches above the general state rate of BBB.
    
Other schools affected are Eastern Illinois University, Northeastern Illinois University, Southern Illinois University, Governors State University and Western Illinois University. Illinois State University retained an A rating.
    
S&P downgraded City Colleges four notches. The colleges’ credit hours dropped 22 percent from 2010 to 2016.
 

Related Articles

101st Airborne soldiers to return from Africa mission More than 100 members of the 101st Airborne Division are returning to Fort Campbell after a six-month mission in Africa.
Portion of Marshall County road to be paved The Kentucky Transportation Cabinet says KY 402/Brewers Highway will be paved from the KY 58 intersection to the Clarks River Bridge.
President’s criticisms spark more protests at NFL games President Donald Trump’s criticism of players who kneel during the national anthem sparked angry protests around the National Football League Sunday, ...
New traffic signal to be activated in Calvert City on Monday The Kentucky Transportation Cabinet says the new traffic signal at the Purchase Parkway/US 62/KY 1523 intersection will go into service sometime after...