Moody’s Investors Service has revised the outlook on Kean University’s outstanding debt to negative.
At the same time, the agency’s analyts affirmed the A2 rating on Kean’s revenue bonds issued through the New Jersey Educational Facilities Authority, and the A3 rating on the Kean University Foundation’s revenue bonds issued through the Bergen County Improvement Authority.
“The outlook has been revised to negative resulting from the university’s accreditation being placed on probation by the Middle States Commission on Higher Education,” Moody’s analysts said in their report.
The placement on probation is a result of finding of insufficient evidence demonstrating compliance on four of the commission’s 14 accreditation standards.
Kean University, in Union, N.J., is the third-largest public university in the state.
