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Moody's Downgrades Howard U.'s Credit Rating

Moody's Downgrades Howard U.'s Credit Rating
September 25, 2013

Moody's Investors Service on Tuesday announced that it has downgraded Howard University's credit rating from A3 to Baa1 (or from a low to moderate credit risk). Moody's cited a number of financial challenges facing Howard, including budget problems at the university hospital, declines in enrollment, and dependence on federal support at a time that such support will be difficult to grow. Sidney A. Ribeau, president of Howard, said in a statement to The Washington Post that the university has "a robust strategy to mitigate soft enrollment,” and plans for long-term changes in the hospital.

 

 

 

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