Tuesday, April 15, 2003

FIRST U.S. NEWS, NOW THIS: Moody's Investors Services, which analyzes the financial health of institutions to gauge their credit worthiness, has downgraded Williams College in its latest rankings. No longer is that wretched hive of scum and villainy AAA-rated like their peer institutions, and they may have to borrow at higher rates of interest for the foreseeable future.

What happened? As their own spin makes clear, Williams is taking on $173 million in total debt, including a new $113 million offering, apparently in order to finance much-needed campus renovations. Unfortunately, recent endowment losses and poor investment returns have made this issuance a bit more weighty on their coffers than it would've otherwise been.

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