Moody’s says recent PSU actions are positive

STATE COLLEGE, Pa. (AP) — Ratings agency Moody’s Investors Service says recent changes to the Pennsylvania State University Board of Trustees are a “credit positive.”

In a credit outlook report released late Thursday Moody’s says “significant changes” were recently made to Penn State’s governance structure and oversight practices, and those should strengthen oversight and management.

Moody’s says that will likely allow risks “to be more appropriately assessed and not overlooked.”

Last October Moody’s downgraded Penn State University’s long-term credit rating because of the expected financial costs from pending lawsuits related to the Jerry Sandusky sex abuse scandal.

The “credit positive” isn’t an official upgrade, but a suggestion of the potential impact of the recent actions.

WKBN 27 First News provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. No links will be permitted. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

blog comments powered by Disqus