Despite improving economic conditions, state credit ratings have remained under pressure in 2014. Thus far, the states of Kansas and New Jersey have both been on the receiving end of several adverse rating actions, while Illinois – the nation’s lowest rated state – received a negative outlook from S&P.
A recent story crossing the Bitvore platform reminds us that many of the nation’s smaller universities face enrollment and cost pressures that could impact bondholders. The Portsmouth Daily Times reported that Shawnee State University – in Portsmouth, Ohio – is facing a $2.5 million budget shortfall. The university’s president attributed […]