November 14, 2008
One Debt-Financing Option May Increase Risk of College Bankruptcies
A common type of variable-rate financing has suddenly increased the risk of bankruptcy for an unknown number of colleges, the top higher-education analysts at the nation's two major credit-rating agencies said last month.
The threat affects mostly less-wealthy colleges that have used variable-rate bonds either to get a better price when borrowing or because they lacked bond ratings and had little other choice, said the analysts, from Moody's Investors Service and Standard &
This is an article for subscribers only. You may access this article by purchasing a:
Digital or Print Subscription
Web Pass
Already have an account? Log In Now.
-
Off Beat
-
Observer
-
Finance
