Moody's Downgrades More Illinois Universities - News and Weather For The Quad Cities -

Moody's Downgrades More Illinois Universities

Updated:
  • Most Popular StoriesMost Popular StoriesMore>>

  • Last Bix Finisher Inspires The Crowd

    Last Bix Finisher Inspires The Crowd

    Saturday, July 26 2014 6:08 PM EDT2014-07-26 22:08:16 GMT
    In less than three hours, Toni Wendler finished the 2014 Bix 7 race. She was born with Spina Bifida, but doesn’t stop her from reaching her goals.More >>
    In less than three hours, Toni Wendler finished the 2014 Bix 7 race. She was born with Spina Bifida, but doesn’t stop her from reaching her goals.More >>
  • FULL SHOW: Battle Up Brady

    FULL SHOW: Battle Up Brady

    Thursday, July 24 2014 10:10 PM EDT2014-07-25 02:10:09 GMT
    If you missed the Battle Up Brady, check it out online right here!More >>
    If you missed the Battle Up Brady, check it out online right here!More >>
  • PV Superintendent Says Ineligible Runner Was Aware Of Eligibility Requirements

    PV Superintendent Says Ineligible Runner Was Aware Of Eligibility Requirements

    Friday, July 25 2014 7:47 PM EDT2014-07-25 23:47:16 GMT
    Pleasant Valley Girls' track team has been stripped of its 2014 Class 4A state title after one of its members was ruled ineligible by the Iowa Girls' High School Athletic Union Board.PV Superintendent Jim Spelhaug tells KWQC there is “no question or confusion” that the team member involved and her family knew of the state's eligibility requirements.In April, PV’s star runner, Kaley Ciluffo explained why the 800 meters is her event.It's basically like two 4400'sput together which, that's why i...More >>
    Pleasant Valley Girls' track team has been stripped of its 2014 Class 4A state title after one of its members was ruled ineligible by the Iowa Girls' High School Athletic Union Board.PV Superintendent Jim Spelhaug tells KWQC there is “no question or confusion” that the team member involved and her family knew of the state's eligibility requirements.In April, PV’s star runner, Kaley Ciluffo explained why the 800 meters is her event.It's basically like two 4400'sput together which, that's why i...More >>

Moody's has downgraded $1.56 billion of debt issues by the University of Illinois and lowered the ratings of six other state universities. Those include Illinois State University, Southern Illinois University, Eastern Illinois University, Western Illinois University, Northeastern Illinois University and Governors State University.

"As state leaders continue to put off work on necessary pension reform, Moody's Investors Service has more bad news for Illinois," said Illinois State Treasurer Dan Rutherford in a statement.

The state's downgrade means that when Illinois tries to borrow money, it faces a higher interest rate, just like someone who tries to get a car loan with maxed out credit cards.

"Though these additional downgrades should sound an alarm, I am not sure state leaders will allow themselves to hear it," explained Treasurer Rutherford.  "The Moody's report states that these universities are being downgraded because they rely heavily on the state of Illinois for finances; and as we should all know by this point, the state's pension funding crisis is suffocating other essential spending."  Moody's did note that further inaction on pension reform will continue to add pressure to state operating appropriations.

Powered by WorldNow

805 Brady Street, Davenport, IA 52803

Telephone: 563.383.7000
Fax: 563.383.7131
Email: news@kwqc.com

Can’t find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Young Broadcasting of Davenport, Inc. A Media General Company.