S&P Upgrades Illinois Universities’ Debt Ratings

 

S&P has raised the ratings on debt from four Illinois universities and modified its outlook on three others in the wake of the State passing a budget which eases the “immediate liquidity risks.”

Please note that four of these universities are still well into the “junk” category.  

Southern Illinois University and Governors State University were upgraded to BB+ from B and Northeastern Illinois University and Eastern Illinois University were upgraded to B+ from B.  All four of these universities were given a stable outlook.

The University of Illinois and Illinois State University were assigned a stable outlook on the A- rating.  Western Illinois University was assigned a stable outlook on the BB- rating.

Bloomberg article

Crain’s Chicago Business article