Standard & Poor’s has revised its outlook on Western Illinois University’s A rating to stable from negative as analysts’ concerns over Illinois state aid delays have eased.
The action comes ahead of the school’s sale of $33.4 million of revenue bonds.
“The return to a stable outlook reflects our view that, although the state continues to delay disbursements, the university has demonstrated the ability to successfully manage its operations and cash flows and make timely debt-service and vendor payments during the past two years,” said analyst Jessica Lukas.
Proceeds from the upcoming sale will finance housing and dining facility improvement and refund a 2002 issue.
