Moody's downgrades College of New Rochelle's credit rating
Photo credit: AP | A Moody's sign is shown in this file photo. (Aug. 24, 2010)
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Citing enrollment declines and "weakening operating performance," a major ratings service has downgraded the College of New Rochelle's bond rating and given it a "negative" credit outlook.
The move by Moody's Investors Service to downgrade the college's $58.5 million of rated debt from Baa3 to Ba1 was announced on the company's website on Wednesday.
"The downgrade . . . is based on persistent...
