Contact Us
Make My Homepage

Moody’s Downgrades Bond Rating For Rutgers

Moody’s Investor Service has downgraded the bond rating of Rutgers University, raising concerns about the financial impact of its merger with the University of Medicine and Dentistry of New Jersey.

 

Rutgers New Brunswick campus
Rutgers New Brunswick campus (Facebook)

The Star-Ledger reports that Moody’s downgraded the university’s general obligation and parity long-term debt to Aa3 from Aa2. It also assigned a Aa3 rating to $878 million of general obligation bonds. The ratings affect $1.7 billion of debt and will make it more expensive for the university to borrow money.

Rutgers said in a statement Thursday that the university had “long anticipated” that the integration of UMDNJ could lead to a short-term adjustment in its bond rating.

The university says it expects the financial impact to be “insignificant and well within the range of our expectations.”

(Copyright 2013 The Associated Press. All Rights Reserved)

 

Best of the Web


Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://nj1015.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here.

Sign up for an account to comment, share your thoughts, and earn points to get great prizes.

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!