Moody’s Downgrades Howard University’s Credit Rating

Tuesday, Sep 24, 2013  |  Updated 8:32 PM EDT
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Moody’s Downgrades Howard’s Credit Rating

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Moody's downgraded Howard University's credit rating Tuesday.

Moody’s blames it in part on weak fundraising and federal budget cuts.

Howard relies on $250 million dollars a year from the government.

The university is also dealing with a drop in student numbers following stricter loan standards.

Moody's also says expenses at Howard University Hospital are putting a strain on the rest of the school.

In April, a trustee wrote a letter to board members saying the university could shut its doors within three years due to mismanagement and financial problems.

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