Capitol Fax.com - Your Illinois News Radar » S&P lowers SIU to junk bond status
SUBSCRIBE to Capitol Fax      Advertise Here      Mobile Version     Exclusive Subscriber Content     Updated Posts    Contact
CapitolFax.com
To subscribe to Capitol Fax, click here.
S&P lowers SIU to junk bond status

Thursday, Apr 20, 2017

* Click here and here if you have a Bond Buyer subscription, but here’s their reporter…


- Posted by Rich Miller        

27 Comments
  1. - Signal and Noise - Thursday, Apr 20, 17 @ 5:18 pm:

    Bond holders react really well this this kind of news. I don’t envy any CFO’s in public higher ed right now.


  2. - Nickname - Thursday, Apr 20, 17 @ 5:27 pm:

    None of them can file bankruptcy. The discount gets deeper and the vultures will make more money.


  3. - Juice - Thursday, Apr 20, 17 @ 5:29 pm:

    Western, Eastern and Governor’s state all downgraded as well.

    Eastern and GSU were already in junk.

    Western was downgraded from BBB- to BB-, placing them in junk status.


  4. - illini - Thursday, Apr 20, 17 @ 5:29 pm:

    This is the 5th story that Rich has posted in the past 4 days about UIUC and the Regionals. And the deliberate destruction of all of Higher Education in Illinois.

    The State refuses to even come close to adequately fund any of our institutions, yet their one option is to issue bonds to help keep them afloat.

    But when these bonds fall into the “junk” category and are placed on the Watch List any reasonable person would have to ask “What the h##l is going on?”

    Even my Alma Mater is being impacted.

    What will it take to reverse this trend? Or, are the few survivors doomed to become third rate relics of once proud and productive parts of our states economy?


  5. - Liberal Elite - Thursday, Apr 20, 17 @ 5:31 pm:

    Passing literally any budget would be better than a continued stalemate that decimates our state’s public universities. There’s no possible way that making a 15% reduction in worker’s comp awards (already down 6.4% since 2010) and passing term limits just to get rid of a 75-year-old speaker is worth destroying higher education in the state. It just isn’t.


  6. - Arthur Andersen - Thursday, Apr 20, 17 @ 5:38 pm:

    Illini, have faith. The Big U has been around for 150 years and has survived a lot. If I was buying bonds right now, I wouldn’t hesitate to buy U of I debt.


  7. - Oswego Willy - Thursday, Apr 20, 17 @ 5:40 pm:

    The Rauner Library and the Rauner Dormatory at Dartmouth are fine…

    … Diana and Bruce Rauner are just continuing the destruction of the state universities, I guess at this point for their own personal amusement?

    Congrats to Raunerites in the GA, you are now seeing the real destruction of Diana and Bruce controlling your voting switches…


  8. - illini - Thursday, Apr 20, 17 @ 5:44 pm:

    @ArthurAndersen - believe me I do still have faith.

    I was a First Semester Freshman 50 years ago when the was celebrating its Centennial. Now 50 years later its status is being threatened as I have never seen.


  9. - RNUG - Thursday, Apr 20, 17 @ 5:45 pm:

    == None of them can file bankruptcy. The discount gets deeper and the vultures will make more money. ==

    That is the whole ball game, creating high interest / relatively low rick investments for the 1.4%.


  10. - anon - Thursday, Apr 20, 17 @ 5:52 pm:

    shame on the boards of these universities for not turning the students loose on Rauner and the legislature –if this were California the streets would be filled—these boards have a duty to the institution, not to their appointing power–grow some stones


  11. - Saluki - Thursday, Apr 20, 17 @ 6:16 pm:

    ….


  12. - Arthur Andersen - Thursday, Apr 20, 17 @ 6:22 pm:

    Illini, I’m about seven years behind you. True that these are unprecedented times.


  13. - @misterjayem - Thursday, Apr 20, 17 @ 6:27 pm:

    == None of them can file bankruptcy. The discount gets deeper and the vultures will make more money. ==

    That is the whole ball game, creating high interest / relatively low rick investments for the 1.4%.

    Serious question for Bruce Rauner’s defenders: If Bruce Rauner really did want to make University bonds into high interest/low risk instruments, what exactly would he do differently?

    – MrJM


  14. - TNR - Thursday, Apr 20, 17 @ 6:36 pm:

    No worries, this is making the universities stronger. Just ask the EIU president.


  15. - Anon221 - Thursday, Apr 20, 17 @ 6:42 pm:

    I would love to see the Rauners’ investment portfolio. I’m sure they are both “recusing” themselves from “helping” these universities out. But then again… there’s those economic and education agendas they both promoted to get him elected in the first place…


  16. - Thomas Griffin - Thursday, Apr 20, 17 @ 7:13 pm:

    We are going to flood Springfield next Thursday but I am sure Rauner will hide in his bunker at the state fairgrounds or go on another campaign tour.


  17. - 47th Ward - Thursday, Apr 20, 17 @ 7:20 pm:

    Does this mean SERS and other pension funds have to dump any bonds they hold or that they can’t buy more? Once you lose the institutional investors all you have left is the speculators.


  18. - Nickname - Thursday, Apr 20, 17 @ 7:27 pm:

    @47th Ward

    Depends on the Charter for the Retirement Systems and whatever purchase agreement exists (assuming the systems bought them pre-offering).


  19. - Nickname - Thursday, Apr 20, 17 @ 7:31 pm:

    @MrJM

    Maybe wear a monocle and smoke a cigar. Other than that, absolutely nothing.

    I’ll be convinced this is intentional when he throws them a lifeline right before either (a) they close or (b) they miss a bond payment. Until then I’ll try to mute my cynicism.


  20. - Ducky LaMoore - Thursday, Apr 20, 17 @ 7:37 pm:

    Glad I was already drinking…. Wow. Is it considered insider trading when you know what is going to happen because of the CapFax…?


  21. - Louis Capricious - Thursday, Apr 20, 17 @ 8:29 pm:

    === That is the whole ball game, creating high interest / relatively low rick investments for the 1.4%. ===

    I don’t doubt that is the objective or, at the least, a result he is happy to produce as part of his effort to suffocate the institutions of state government until such time that the Democrats agree to unilaterally disarm (via passage of his agenda).

    But if that truly is what’s afoot, shouldn’t the feds be asking questions?


  22. - Tired Teacher - Thursday, Apr 20, 17 @ 8:50 pm:

    It is an economic and moral crisis. The loss of talent as students head out of state deals Illinois an economic body blow today and in the future. For the Gov. to not step in and immediately work a budget for the students of our state shows his lack of a moral compass. It is a situation that I could have never imagined.


  23. - Living it daily - Thursday, Apr 20, 17 @ 9:01 pm:

    protesting the Governor’s inaction at providing a balanced budget so far, at his new compound, sounds like a good idea. I believe the State Fair grounds are public, and there is a gate right in front of the Managers house, so see you there!


  24. - Anonymous - Thursday, Apr 20, 17 @ 11:07 pm:

    Squeeze the beast.

    What’s the mystery?

    How you likin’ , all that attention, Downstate voters?

    You’re getting clobbered, by your governor.Played for fools.

    Rauner made a fortune in the private sector as a deadbeat, bust- out artist.

    So… thats what he does.


  25. - Anonymous - Friday, Apr 21, 17 @ 12:17 am:

    He needs to be removed immediately.


  26. - illini - Friday, Apr 21, 17 @ 6:29 am:

    What is one to think when the lead report on KMOX this morning is the Chancellor of SIUE stating categorically that the campus will open in the fall.

    Apparently this is no longer assumed to be a given and that our Regionals are needing to go to great lengths to reassure the entering class and retain those already enrolled.


  27. - Rocky - Friday, Apr 21, 17 @ 7:53 am:

    why cant we move to get rid of Rauner?


TrackBack URI

Sorry, comments for this post are now closed.


* Madigan warns tax hike will be difficult, says he needs GOP leaders to persuade governor on "non budget" items
* Rauner/GOP budget would sweep "every penny" from ratepayer-funded solar program
* Pritzker launches targeted Senate district robocalls blasting Rauner
* *** UPDATED x2 - Durkin walks back term limits comment *** Durkin "not focusing" on term limits with Madigan, warns of tough road to 30 HGOP votes
* Because... Madigan!!!
* Medicaid directors warn against "transfer of risk, responsibility, and cost to the states of historic proportions"
* The backlog is horrible, but it could be even worse than we know
* CTBA: Property tax freeze would cost schools up to $830 million a year
* Cook Political Report moves Rauner reelect from "Lean Republican" to "Tossup"
* Candidates at the Pride Parade
* Caption contest!
* *** UPDATED x1 - Pritzker campaign responds *** Dueling press releases
* Um, no
* Special session roundup
* Rauner loves going over reporters' heads, and he did it again
* *** UPDATED x1 - Biss criticizes *** Rauner criticized for "campaign" trip to Iowa during special session
* Illinois' First Lady to speak at Chicago City Club today
* *** LIVE *** Special session coverage
* SUBSCRIBERS ONLY - Today's edition of Capitol Fax (use all CAPS in password)
* Yesterday's stories

Support CapitolFax.com
Visit our advertisers...

...............

...............

...............
<


Loading


* The Latest: House Democrats Finalizing Budget P.....
* Special Session Adjourns Within Minutes For Six.....
* Illinois Chamber backs a big tax hike..
* Madigan, like Rauner, lists 'non-budget' demand.....
* Illinois in danger of entering financial 'death.....
* Pritzker launches targeted Senate district robo.....
* Our view: Compromise a must on schools bill..
* Illinois House GOP narrows focus on non-budget .....
* Illinois House GOP narrows focus on non-budget .....
* Illinois House GOP narrows focus on non-budget .....


* Winamac man dead, girl hurt after collision with police car
* Illinois House GOP narrows focus on non-budget issues
* Illinois House GOP narrows focus on non-budget issues
* Madigan, like Rauner, lists 'non-budget' demands for deal
* UberEATS, McDonald's offering delivery in Pittsburgh-area
* Correction: Peoria History Tours story
* Body found in submerged car identified as missing woman
* EXCHANGE: Soccer meets golf in 'footgolf' at golf course
* New tax on soda, sugary drinks starts July 1 in Cook County
* New tax on soda, sugary drinks starts July 1 in Cook County

* Illinois House GOP narrows focus on non-budget issues
* Speaker Madigan lays out non-budget demands
* Madigan lays out non-budget demands
* Activists push to save rare wetland on school property
* Illinois House looks at school funding, but not budget
* Illinois could be 1st state with 'junk' credit due to budget
* House looks at school funding, but not budget
* Tourists like the Statehouse, not the gridlock inside of it
* Mendoza: By August, there won't be enough tax money to cover expenses
* Mendoza issues warning while leaders argue

* How looming fatherhood set this future CEO on his path
* Crain's wins top awards for print and website
* Lawmakers await CBO score on Senate GOP health bill
* How a 29-year-old built the fastest-growing company in Chicago
* Like our roundup? Share it around.


* Blackhawks sign backup goalie Anton Forsberg, forward Tomas Jurco
* Man shot in East Garfield Park
* Predicting milestones: Can Anthony Rizzo reach 1,500 RBI?
* An unconscionable Republican health care bill
* Family of man killed by girl with machete files suit against Wal-Mart
* Bulls fan starts GoFundMe for a ‘Fire Gar-Pax’ billboard
* Adams Street Bridge to close over the river three days this week
* Pedestrian fatally struck by SUV in Waukegan
* Entertainment critics should be as diverse as the arts they cover
* Two wounded in Austin drive-by shooting


* Death of woman found in Northwest Side gangway is ruled a homicide
* Police: Aurora man charged with DUI; was asleep in Burger King drive-thru
* Family of Uber driver killed with stolen knife, machete sues Walmart
* Joe Arpaio on trial over immigration actions echoing Trump's
* LINDA C. BLACK HOROSCOPES for 6/26/17
* Plan advances to close Ohio Street underpass overnight following nearby killing
* GOP leaders add new item to health care bill: penalty for lapsed coverage
* Mamby on the Beach a winning mix of mood, tunes and Chicago vibe
* Fox Sports cuts web writing staff to invest more in online video
* Pharmacy co-founder to be sentenced in deadly meningitis outbreak


» After Long Opposing Rauner's 'Non-Budget' Demands, Madigan Has Three Of His Own
» Photos: Chicago LGBT Pride Parade Parade 2017
» Photos: Chicago LGBT Pride Parade 2017
» State Week: Special Session Begins
» When Will Illinois *Really* Run Out Of Money? Could Be August
» Prosecutors Seek To Uphold 'Making A Murderer' Confession
» Budget Impasse Makes Future Of Sojourn Shelter Unclear
» Bulls Trade Butler To Timberwolves, Go All In On Rebuild
» Illinois Experiments With High Schools Of The Future
» Senate Democrats Urge Republicans To Compromise On Budget Deal


* Illinois House GOP narrows focus on non-budget issues
* Mark Grant: Small Businesses — Special session an opportunity to fix Illinois' budget problems
* George Will: Baseball's pace of play needs some juice
* Speaker Madigan lays out non-budget demands
* Madigan lays out non-budget demands
* Activists push to save rare wetland on school property
* Bernard Schoenburg: Rauner talks of being happy, energized during impasse
* Illinois House looks at school funding, but not budget
* Illinois could be 1st state with 'junk' credit due to budget
* Statehouse Insider: Rauner's unity speech brought out the partisanship


* 14 men arrested in St. Louis, Charles county prostitution sting
* Two banks decide to merge under one name
* Alton Community Service League volunteers donate money and time
* Ss. Peter & Paul Catholic Church celebrates expansion, renovation
* History Corner: A Look Back (June 2017)
* June 29 Ask the Sports Editor chat
* June 28 Illinois basketball chat
* Madison County police news, June 25
* C-U Symphony Fundraiser
* Highland Relay for Life


* Supreme Court reinstates Trump travel ban, will hear arguments
* Aldi reopens three remodeled stores
* DuPage County to vote on plan to increase funding for fire protection district
* Grayslake man killed when hit by SUV while crossing road
* Vikings player Floyd expected to appear in Arizona court

* Duckworth Calls Republican Healthcare Bill...
* Bipartisan HOME Act Introduced to Protect ...
* Students from St. Charles, Batavia among c...
* Randy Hultgren: US should remain on UN cou...
* Rep. Randy Hultgren constituents decry sec...
* Hultgren pushes measure to protect veteran...
* Hultgren backs Trump; suburban Democrats d...
* Fundraiser, protest set for Illinois GOP r...
* Hultgren pushes for job training, educatio...
* Duckworth Calls Republican Healthcare Bill...

* Criminal justice reform and reducing recid......
* Progressive Groups Rip Republican Plan To ......
* Feds Send High-Tech Van to Chicago to Comb......

* Duckworth Calls Republican Healthcare Bill......

* ‘Gauguin: Artist as Alchemist’ at the Art Institute, Millennium Park Summer Film Series, and more things to do in Chicago this week
* Ink: Chicago Blue
* The White Sox Report: Why Todd Frazier Should Lead Off. Seriously.
* Rahm Emanuel: Trump has transformed the Republican base, and other Chicago news
* 'Maybe The Worst FCC I've Ever Seen'
* Illinois tax hikers plan phone-in tax hike demand next Tuesday
* Cook County, A Soda Tax, and the Death of an Economy
* For federal oversight of police reform to work, pressure from the community must continue
* Illinois Policy Institute calls for lawmaker pay delay until budget passage
* Despite gains, Illinois' cities have yet to erase the job losses of the recession


* Illinois Awarded Funds to Offer Advanced Training on Detecting Impaired Driving
* Illinois EPA Announces Upcoming Household Hazardous Waste Collection Events
* IEMA Highlights Emergency Preparedness for People with Access and Functional Needs in May - Ready Illinois website offers preparedness tips for people, caregivers
* First Lady Launches Illinois Family Connects
* Governor and Lt. Governor Unveil 2016 Journal of Local Government Shared Service Best Practices

  
* [TA Deals] Get the Microsoft Excel Specialist Certification Bundle for $19
* Android O picture-in-picture mode now works with video on Chrome
* Giveaway: Win a Huawei P10 from Talk Android!
* This week is Cricket Rewards Week with a chance at a free Galaxy S8
* Nokia 6 lands in the United States in July for $229
* FCC lets OneWeb into US market for satellite internet service
* Apple Releases Revised Version of Second tvOS 11 Developer Beta

* Make Avisail an AL All-Star starter
* White Sox recall Minaya to freshen bullpen
* White Sox tab Holmberg for opener vs. Yanks
* White Sox tab Holmberg for opener vs. Yanks
* Make Avisail an AL All-Star starter
* White Sox farm system ranks third
* White Sox tab Holmberg for opener vs. Yanks


Main Menu
Home
Illinois
YouTube
Pundit rankings
Obama
Subscriber Content
Durbin
Burris
Blagojevich Trial
Advertising
Updated Posts
Polls

Archives
June 2017
May 2017
April 2017
March 2017
February 2017
January 2017
December 2016
November 2016
October 2016
September 2016
August 2016
July 2016
June 2016
May 2016
April 2016
March 2016
February 2016
January 2016
December 2015
November 2015
October 2015
September 2015
August 2015
July 2015
June 2015
May 2015
April 2015
March 2015
February 2015
January 2015
December 2014
November 2014
October 2014
September 2014
August 2014
July 2014
June 2014
May 2014
April 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
August 2013
July 2013
June 2013
May 2013
April 2013
March 2013
February 2013
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
August 2006
July 2006
June 2006
May 2006
April 2006
March 2006
February 2006
January 2006
December 2005
April 2005
March 2005
February 2005
January 2005
December 2004
November 2004
October 2004

Blog*Spot Archives
November 2005
October 2005
September 2005
August 2005
July 2005
June 2005
May 2005

Syndication

RSS Feed 2.0
Comments RSS 2.0
WordPress




Hosted by MCS SUBSCRIBE to Capitol Fax Advertise Here Mobile Version Contact Rich Miller