Moody's calls recent actions by Penn State positive

Written by The Associated Press | May 17, 2013 2:19 PM
Pennsylvania State University old main

(State College) -- Ratings agency Moody's Investors Service says recent changes to the Penn State University Board of Trustees are a "credit positive."

In a credit outlook report, Moody's says "significant changes" were recently made to Penn State's governance structure and oversight practices, and those should strengthen oversight and management.

Moody's says that will likely allow risks "to be more appropriately assessed and not overlooked."

Last October, Moody's downgraded the university's long-term credit rating because of the expected financial costs from pending lawsuits related to the Jerry Sandusky sex abuse case.

The "credit positive" isn't an official upgrade, but a suggestion of the potential impact of the recent actions.

Published in News

Tagged under , , , , , ,

back to top

Post a comment

Give Now

Support for WITF is provided by:

Become a WITF sponsor today »

Smart Talk

Real Life Real Issues

Flight 93: Devotion to a quiet field

Grave 43: Remembering Pony

National Edward R. Murrow Awards

DuPont Columbia Awards

Support Local Journalism

Latest News from NPR

Support for WITF is provided by:

Become a WITF sponsor today »