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

Post your comment... And please take a half second to come up with a nickname. It makes following the posts easier for everyone... Thanks

In other words, do your best to be civilized and smart.


* Madigan says he met with Rauner today, asked him to focus on budget
* Question of the day
* Our two economies
* *** UPDATED x2 - IDOC responds - Manar responds *** Rauner rescinds IDOC nurse layoffs
* It's just a bill
* Goldberg says Rauner would sign a stand-alone K-12 funding bill
* Daiber says he voted for Hardiman
* "As soon as he gets that call, he’s immediately changing his number"
* House advances equal pay bill
* Animal stories
* Oppo dump!
* *** LIVE *** 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


* Suburban mayors band together against property .....
* Suburban Mayors Band Together Against Property .....
* Suburban mayors band together against property .....
* Suburban mayors band together against property .....
* Suburban mayors band together against property .....
* Suburban mayors band together against property .....
* Suburban mayors band together against property .....
* Suburban mayors band together against property .....
* Suburban mayors band together against property .....
* Suburban mayors band together against property .....


* Suburban mayors band together against property tax freeze
* Central Illinois schools work to repair elevated lead levels
* The Latest: Mother of dead girl won't talk to detectives
* Illinois comptroller using tax-season revenue to pay bills
* Illinois' first family shares temporary home with fox family
* Coroner: Worker had heart attack before drowning in river
* How United selects passengers for involuntary bumping
* Authorities: Body of missing toddler found in Illinois home
* Authorities: Body of missing toddler found in Illinois home
* EXCHANGE: Entrepreneur finds home in fitness community

* State rep: Rauner will rescind prison nurse layoff notices
* Cash flow from tax filings allows payment of some overdue health care bills
* House approves bill prohibiting employers from asking about previous pay
* Kicked out before kindergarten? Officials concerned about preschool expulsions
* Search continues in Joliet Township for missing toddler
* Rauners find family of foxes at Illinois State Fairgrounds residence
* Legislation prioritizing Illinois- and American-made products passes House
* Illinois board terminates Hastert's state lawmaker pension
* Concern expressed over rise in preschooler expulsions
* Women march outside as abortion bill debated inside

* Groupon veteran joins ParkWhiz
* Kirkland passes Baker, becomes No. 2 U.S. law firm
* Kirkland passes Baker to become No. 2 U.S. firm
* United's flight from hell: What went wrong and what will change
* Richard Driehaus is on a mission to preserve—buildings and cars


* Laurie Metcalf, ‘War Paint’ leads nominated for Drama Desk Awards
* 9-year sentence for Rockford-area doctor Charles Dehaan
* 9 charged with Crystal Lake fight that led to stabbing
* Anthony Swarzak putting his career back on track
* Suspect in strangling of Schaumburg woman to appear in court
* $4 billion plan to improve, widen Tri-State Tollway approved
* Unique love-drama-thriller ‘Sleight’ has surprises up its sleeve
* In tweetstorm, Trump takes aim at Democrats on spending bill
* Draft day podcast: Solomon Thomas, Jonathan Allen talk Bears
* Reward offered for man wanted in Naperville Walgreens robbery


* Illinois Tollway board OKs $4 billion Tri-State rebuilding, widening plan
* Geneva woman pleads guilty to killing husband with poisoned smoothie
* Police: Missing toddler found dead in deplorable home where 'squatters' often lived
* Two U.S. troops die battling Islamic State militants in Afghanistan
* Appellate court deals City Hall a loss with Expedia tax reversal
* 2 Cook jail officers seriously hurt by 3 shooting suspects: Sheriff
* Why one therapist chose to reveal her own painful past
* LINDA C. BLACK HOROSCOPES for 4/27/17
* Longtime Lake County Board member Audrey Nixon dead at 81
* Pentagon to investigate ousted Trump adviser Michael Flynn over foreign payments


» Illinois House Democrats Vote to Strengthen Chicago Teachers Union
» Legislators End Hastert's $28k Pension — Is That Legal?
» What An Attempted Rape On Chicago’s West Side Says About Trust Between The Community And Police
» Illinois Board Terminates Hastert's State Lawmaker Pension
» New Chicago Graduation Mandate Earns Mixed Reviews
» Death Of Giant Rabbit Adds To United Airlines Woes
» House Democrats Pass Abortion Legislation
» AARP Illinois Director On Budget Impasse: "Enough is Enough"
» Few College Counselors At CPS Add Uncertainty To Post-Grad Push
» Springfield Women's March Focuses On Democratic Causes, Candidates


* State rep: Rauner will rescind prison nurse layoff notices
* Cash flow from tax filings allows payment of some overdue health care bills
* House approves bill prohibiting employers from asking about previous pay
* Bernard Schoenburg: 2018 race is on, with candidates at Statehouse
* Kicked out before kindergarten? Officials concerned about preschool expulsions
* Our View: Reviving Police Community Review Commission a good call
* Search continues in Joliet Township for missing toddler
* Rauners find family of foxes at Illinois State Fairgrounds residence
* Legislation prioritizing Illinois- and American-made products passes House
* Illinois board terminates Hastert's state lawmaker pension


* Car in water, driver trapped, so here's what these teens did
* House backs requiring cursive writing in schools
* Police seek clues to leather bag that contained infant remains
* Kampsville man Mike Dean pleads to aggravated assault, possession charges
* Unemployment down for Decatur area in March
* House panel seeks charges for firm in Clinton email case
* Maryville woman turning 100 says 'I don't seem like I would be 100'
* Maryville woman turning 100 says 'I don't feel like I would be 100'
* Beiser supports efforts to make it easier to claim life insurance benefits
* Noon update: Amanda's picks, best pop albums, meetings for bus routes and bridge


* United dragging report: 'Our review shows that many things went wrong that day'
* Nine charged in Crystal Lake attempted robbery
* Beach Park man sentenced to 16 years in prison for hotel robbery
* Tollway board OKs Tri-State widening over objections from some suburbs
* Northwest suburban police blotter

* Rep. Randy Hultgren on Trump's Foreign and...
* Rep. Randy Hultgren fields questions at Le...
* League of Women Voters event in St. Charle...
* Randy Hultgren to participate in League of...
* GOP Bill Would Curb Shareholder Activism -...
* Batavia's Congressman Reacts to Missile St...
* GOP congressman appears to distance himsel...
* Batavia's Congressman Holding Service Acad...
* Oswego's Congressman Reacts to Missile Str...
* Veterans seek answers at forum with US Rep...

* 'Brave' Syrian women answer call to make t......
* 'Brave' Syrian women answer call to make t......
* 'Brave' Syrian women answer call to make t......
* 'Brave' Syrian women answer call to make t......
* 'Brave' Syrian women answer call to make t......

* Tammy Duckworth Was Unimpressed By The Whi......

* Batinick: Democrat spending plan is guaranteed uncertainty
* Here’s How Wrong Past Environmental Predictions Have Been
* Former Sun-Times publisher returns to Chicago—to represent Canada
* Thorner: Is Tucker Up to Keeping O'Reilly's #1 Cable News Rating?
* 16 Year Old Threatened By Principal
* Reps. Wehrli and Ives call for Auditor General to be ousted
* Where's Weyermuller? Finding "new" Republicans at John Marshall Law School
* Skillicorn sounds alarm about state's late assistance payments to area schools
* Analysis: Illinois lawmakers rarely know how much bills cost before voting for them
* Where are they now? Former Illinois senator leads effort to end child abuse


* Rauner Administration Seeks to Rid State Government of Illegal Hires Made Under Previous Administration
* Genetic testing confirms Illinois’ new state-record crappie was a hybrid
* New Civilian Aide to the Secretary of the Army invested - Illinois Department of Veterans’ Affairs Director Erica Jeffries Named Civilian Aide to the Secretary of the Army
* Illinois Department of Veterans’ Affairs Honors over 150 Vietnam War Veterans
* Illinois Awarded $16 Million Grant to Fight Opioid Crisis - Funding expands access to treatment and prevention for opioid and heroin crisis

  
* Samsung assures customers there’s no defect with the Galaxy S8 display
* [TA Deals] BESTEK’s portable international voltage converter is just $35! (41% off)
* Affordable BLU R1 Plus available at Best Buy and Amazon with big battery, Android 6.0
* New Gboard update comes with new languages and text-editing tools
* B&H now also discounts 16GB Moto G4 Plus, from $230 to $160
* Samsung Galaxy S8+ vs Google Pixel XL: A closer contest than you may expect (Video)
* Report: Apple Music revamp planned for iOS 11, service to include up to 10 original series

* Melky gets bowled over while catching line drive
* Inbox: Will prospects join White Sox rotation?
* Dunning dominates again
* Backed by bats, Quintana deals a sweep
* Avi setting sail for White Sox
* Backed by bats, Quintana deals a sweep
* Abreu exits with right hip flexor strain


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

Archives
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