Friday's downgrades affect the University of Illinois, Eastern Illinois University, Governors State University, Illinois State University, Northeastern Illinois University, Southern Illinois University and Western Illinois University. Only Northern Illinois University was able to maintain its rating.No statement from headquarters yet, elaborating on the why. We somehow continue to meet payrolls without (yet) laying off or furloughing people. The summer schedule might have reduced electricity bills, but that's proven to be unsustainable as an increasing number of events take place on Friday or at weekends.
THE RATING AGENCIES CATCH A COLLEGE BUBBLE?
Moody's Investor Services have downgraded the bond rating for seven Illinois public universities.