Private Chicago Liberal Arts College Is on Brink of Junk Rating
- S&P cuts Columbia College Chicago rating two notches to BBB-
- Negative outlook reflects operating challenges to continue
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A private liberal arts and sciences college in downtown Chicago got its credit rating cut to the brink of junk as its operating deficits are expected to extend into the foreseeable future.
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.