Private Chicago Liberal Arts College Is on Brink of Junk Rating [BNN Bloomberg (Canada)]
S&P Global Inc. (SPGI)
Last s&p global inc. earnings: 4/28 07:10 am
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Source: BNN Bloomberg
Columbia College Chicago was downgraded two notches to BBB-, the lowest investment grade designation, by S&P Global Ratings on Friday. The firm's outlook on the school is negative as its challenges aren't expected to abate until at least 2027. It's the latest salvo to the increasing pressures facing US colleges and universities. “This recent trend of weak financial performance has led to the rapid deterioration of Columbia's financial resources and has materially weakened its liquidity,” S&P credit analyst Nicholas Fortin said in a statement. Columbia College Chicago is already taking steps to stabilize finances including cutting operating expenses by $19 million for the fiscal year starting Sept. 1, Lambrini Lukidis, associate vice president, said in an emailed statement on Monday. The college also is analyzing its programs “to better align curricular offerings with industry trends and market demand in creative fields to improve enrollment and retention,” Lukidis said. “The co
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SPGI
Earnings
- 4/26/24 - Miss
SPGI
Sec Filings
- 4/26/24 - Form IRANNOTICE
- 4/25/24 - Form 10-Q
- 4/25/24 - Form 8-K
- SPGI's page on the SEC website