A deal meant to help Yeshiva University cope with its financial difficulties has fallen apart, according to reports. The university, which now has junk bond finances and revenue shortfalls that just keep coming, was supposed to fix part of its problems by giving up day-to-day operations of its Albert Einstein College of Medicine. That deal fell apart, though, according to a new credit report by Moody's Investors Service and a news story by the Jewish Daily Forward.
The university for Jewish learning in New York City is expected to run a $90 million deficit in the 2014 budget year, according to Moody's.
Moody's, in its recent report, did find room for praising Yeshiva, namely that it had "improved financial monitoring and reporting, through investments in infrastructure and personnel, provide heightened transparency to key stakeholders to inform strategic decisions."
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