UChicago Downgraded by Fitch on Deficits, Rising Expenses

The University of Chicago was downgraded one notch by Fitch Ratings, which cited the school’s recent budget deficits and rising expenses for the revision.

The private university was cut from AA+ to AA, the third highest credit quality grade, on Tuesday. “Operating deficits persist,” analysts at Fitch wrote in a report, adding that, “macro expense pressures have mounted, particularly labor and supplies.”