May 15, 2009
Moody's Outlines Factors for Ratings Downgrades
Moody's Investors Service has outlined six factors that it will consider in determining whether it downgrades the credit ratings of hundreds of colleges whose $150-billion in debt it rates.
In the same report, it also lays out 13 situations it considers "analytical red flags" that could trigger a rating review.
If a college violates a bond covenant — which many are likely to do this year because the value of their assets has fallen relative to their debt
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