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Some Illinois Schools Have Credit Rating Downgraded

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A credit-rating agency has downgraded the credit worthiness of some financial aspects of four Illinois universities.

Schools affected are Northern Illinois University, Eastern Illinois University, Governors State University and Northeastern Illinois University.

Moody's Investors Service noted the schools' heavy reliance on state money for operating expenses.

Rating agencies put Illinois credit among the worst of any state largely because of an ongoing $97 billion funding gap in state employee pension systems.

Some Indiana Schools Have Credit Rating Downgraded

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