CHICAGO – A second rating agency has dropped Chicago-based Roosevelt University into junk territory over as enrollment struggles and a heavy debt load strain its balance sheet.

Moody's Investors Service lowered the school's rating on $180 million of 2009 bonds to Ba1 from Baa3 and $45 million of 2007 bonds to Ba2 from Baa3 in a report published Monday. The outlook remains negative.

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