Tag Archives: Moody&#39s

Illinois risks rating cut to junk even with budget: Moody's

Illinois risks rating cut to junk even with budget: Moody'sBy Dave McKinney and Karen Pierog CHICAGO (Reuters) – Even if Illinois’ House of Representatives takes action to enact a new budget on Thursday, the state still risks a downgrade in its credit rating to junk, Moody’s Investors Service warned on Wednesday. The Democratic-controlled House on Thursday will attempt to overturn Republican Governor Bruce Rauner’s vetoes of spending and tax increase measures aimed at ending the state’s unprecedented two-year budget impasse. Moody’s said it placed Illinois’ Baa3 rating, which is one step above the junk level, on review for a possible downgrade.



Yahoo News – Latest News & Headlines

Illinois budget impasse increasingly hurts universities: Moody's

Illinois budget impasse increasingly hurts universities: Moody'sIllinois’ record-breaking budget impasse, which has led to sporadic funding for higher education, is increasingly pressuring the finances and competitiveness of state universities, Moody’s Investors Service said on Thursday. The credit rating agency said the lack of complete state funding has forced schools to take “considerable steps,” including cutting academic programs and raising tuition, in order to keep operating and preserve financial liquidity. “Material programing reductions and staffing cuts, while necessary to keep the state’s public universities operational in the short-term, will further impair the universities’ abilities to sustain their strategic competitiveness and attract students for the upcoming fall 2017 class,” Moody’s said in a report.



Yahoo News – Latest News & Headlines