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Keyword: sanduskyscandal

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  • Moody's Investors Service to review, possibly downgrade, Penn State bond rating

    07/24/2012 5:31:16 PM PDT · by Colofornian · 1 replies
    Centre Daily (State College, PA) ^ | July 24, 2012 | Anne Danahy
    The Jerry Sandusky child sex abuse scandal and aftermath could mean a drop in Penn State's bond ratings. Moody's Investors Service announced today that it has put Penn State's bond rating on review for a potential downgrade. The review affects the university's Aa1 rating and applies to about $1 billion in debt. According to an announcement from Moody's, the potential change stems from recent events including the Freeh report, the NCAA sanctions and the Big 10 action, along with uncertainty related to other investigations. The review is expected to be finished in 90 days. It will include assessing the affect...