Moody’s Downgrades Howard University’s Credit Rating

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    TK

    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.