Moody's says recent PSU actions are positive
STATE COLLEGE, Pa. (AP) -- Ratings agency Moody's Investors Service says recent changes to the Pennsylvania State University Board of Trustees are a "credit positive."
In a credit outlook report released late Thursday Moody's says "significant changes" were recently made to Penn State's governance structure and oversight practices, and those should strengthen oversight and management.
Moody's says that will likely allow risks "to be more appropriately assessed and not overlooked."
Last October Moody's downgraded Penn State University's long-term credit rating because of the expected financial costs from pending lawsuits related to the Jerry Sandusky sex abuse scandal.
The "credit positive" isn't an official upgrade, but a suggestion of the potential impact of the recent actions.