Explainer: What Columbia’s recent credit rating shift to ‘junk’ really means

Explainer: What Columbia’s recent credit rating shift to ‘junk’ really means

S&P Global Ratings lowered Columbia’s credit rating earlier this week from a BBB- to a BB+, citing falling enrollment rates and low student success rates.   The report listed the college’s outlook as “negative,” a designation that indicates non-investment grade or “junk” status.   The downgrade reflects a national trend as small and mid-sized private colleges face budget pressures from rising costs, flat or declining enrollment and changes in fe…