5 higher education institutions put on negative credit watch
BATON ROUGE - With the threat of deep budget cuts looming, national credit rating agency Standard & Poor's has placed five Louisiana higher education institutions on a negative credit watch.
The move effectively cautions investors that ratings could be lowered in the near future.
S&P's decision affects Nicholls State University, the University of Louisiana at Lafayette, the University of New Orleans Research Foundation, LSU's Bogalusa Community Medical Center Project and the Delgado Community College Foundation.
The rating agency says it will look again at the issue within 90 days, after the legislative session ends and next year's budget is crafted.
Higher Education Commissioner Joe Rallo and Gov. Bobby Jindal's administration expressed optimism that a budget solution will be found and the institutions will be taken off S&P's watch list.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Demolition ceremony at Denham Springs Elementary set for Tuesday
Residents fear Hood Road becoming popular for body disposal
EBR school board member issues apology for profanity-laced tirade aimed at teens
Licensed employee allows Ascension mosquito abatement to take flight
Plainview Cemetery finally reopens after 2016 flood