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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.

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