Wednesday, July 26, 2017

U of I's credit rating moves from negative to stable

S & P upgraded the University of Illinois's credit rating from "negative" to "stable." The entire U of I system is now no longer at risk of being downgraded any further.

They did receive at least one downgrade during the budget impasse, any diminishment of credit rating results in a higher cost of debt for the university.

Despite a 10 percent cut in funding, the certainty of a budget will help the university and it's students thrive.

"What it does is give in-state tuition to students in Illinois, predictability because they were getting worried,” said Dean Ron McNeil, with the University of Illinois Springfield College of Business and Management.

U of I and Illinois State University have the highest credit ratings in Illinois.

This story aired on Fox Illinois on July 25, 2017.

Read the entire story online.