S&P announces revised outlook for Penn State

UNIVERSITY PARK, Pa. -- Credit ratings agency Standard & Poor's announced today (Dec. 20) that it has revised Penn State's outlook to stable from negative and affirmed its 'AA' long-term bond rating. S&P's move follows on the heels of a similar action in early November by Moody's Investors Service, which boosted Penn State's rating of Aa2 with a stable outlook to Aa2 with a positive outlook, citing the University's "rapid and effectively executed improvements to its governance, best practices and management over the past year." Both S&P and Moody's are leading providers worldwide of independent credit risk research and benchmarks.

Penn State President Rodney Erickson said the change in the S&P outlook clearly affirms the ongoing progress that's been made and provides recognition of Penn State's commitment to fiscal responsibility and overall improvement.

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Last Updated December 20, 2013