More than 1,000 Howard University Hospital employees are facing furloughs and the university's credit rating is in jeopardy. News4's Jim Rosenfield reports.
Twelve days of furlough await Howard University Hospital workers due to declining enrollment, cuts in federal funding and a drop in patient demand.
The school will cut $6 million in costs with the furlough days, which they say will be organized in a way not to impact patient care.
In addition, Moody's Investors Service is reviewing the Historically Black University's credit rating, The Washington Post reports.
The financial agency could lower the school's A3 credit rating to Baa, which signifies a moderate credit risk. Right now, the school's credit rating indicates there is a low risk for default.
In a statement released to The Post Monday, Moody's said the review “reflects Howard University’s extremely pressured environment."
Last month, a Howard University trustee said the school could shut its doors within three years due to "genuine trouble," including mismanagement and financial problems.
"Howard will not be here in three years if we don’t make some crucial decisions now," wrote Renee Higginbotham-Brooks, vice chairwoman of Howard University's board of trustees.
Board of Trustees Chairman Addison Barry Rand later issued a response, saying the letter "without proper context paints an unduly alarming picture of the University’s condition."
Rand's response said the board would work with the administration to continue to address Howard's challenges, "with appropriate transparency and sensitivity to the concerns and well-being of the institution and to all members of the Howard University community."