Originally written on The Sports Bank  |  Last updated 11/12/14
Moody’s investor rating service said yesterday that it may have to cut its credit rating on Penn State University as the school deals with the fallout from the Jerry Sandusky child sexual-abuse case, the Joe Paterno cover-up and the NCAA and Big Ten sanctions handed down on the school’s college football team. From Penn Live: The agency has an ‘Aa1′ rating on Pennsylvania State University’s credit. That is its second-highest possible rating. The firm said a recent report by former FBI Director Louis Freeh and sanctions levied by the NCAA could hurt student enrollment and fundraising for the university, and the school also faces uncertainty in the form of ongoing federal and state investigations. Penn State has about $1 billion in debt, Moody’s said. A downgrade could make it more expensive for Penn State to borrow money, which would be another long-term cost in a scandal that has already cost the school immeasurably. Paul M. Banks is CEO of The Sports Bank.net, an official Google...
GET THE YARDBARKER APP:
Ios_download En_app_rgb_wo_45
MORE FROM YARDBARKER

Houston mayor's office weighs in on Kaepernick Instagram post

Dallas Cowboys using drones to tape practice sessions

LeBron James' manager is mentoring Johnny Manziel

Details emerge from McDonald's domestic violence arrest

Eagles rookie receiver arriving early to practice in a taxi

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

Eric Berry 'doing well' after finishing cancer treatments

WATCH: Blatt has special message for LeBron

Shaq once threatened to murder Kobe Bryant

Bryce Harper: Mike Trout is the best player in baseball

Report: Wilson skipped OTAs to attend funeral with Graham

Antonio Brown on contract: 'I've got enough' money

LeBron James needs to revert to an old style, not an old form

After sweep by Cavaliers, what's next for the Hawks?

Michigan DB Jabril Peppers tees off on NCAA on Twitter

Star NFL player missing OTAs? Keep calm...

Adrian Peterson expected to attend 'Adrian Peterson Day'

Blatter, corruption and Women's World Cup: It's complicated

JR Smith’s mom quotes Drake after sweep of Hawks

Hawks radio announcer calls Dellavedova 'Tonya Harding'

FIFA officials arrested, to be extradited to US for corruption

WATCH: LeBron throws down huge dunk from inside FT line

Nick Saban says he caught 6-foot, 180-pound fish

WATCH: Vin Scully tells story about Gomes being attacked by wolf

College Football News
Delivered to your inbox
You'll also receive Yardbarker's daily Top 10, featuring the best sports stories from around the web. Customize your newsletter to get articles on your favorite sports and teams. And the best part? It's free!

By clicking "Sign Me Up", you have read and agreed to the Fox Sports Digital Privacy Policy and Terms of Use. You can opt out at any time. For more information, please see our Privacy Policy.
the YARDBARKER app
Get it now!
Ios_download En_app_rgb_wo_45

Star player missing OTAs? Keep calm...

Transfer rumors: Drogba, Pirlo and Gomez linked to MLS

Cano's slump: The good news, bad news

Disappointments of the MLB season

UGA wants SEC to ban transfers with misconduct issues

Long's great reaction to Bears releasing McDonald

Crazy stats from the NBA Playoffs

WATCH: Curry leaves game after nasty fall

Royals' Guthrie sets records in blowout

Bears cut McDonald after incident

Report: Pierce could opt out of contract

The Talented Mr. Blatt

Today's Best Stuff
For Bloggers

Join the Yardbarker Network for more promotion, traffic, and money.

Company Info
Help
What is Yardbarker?

Yardbarker is the largest network of sports blogs and pro athlete blogs on the web. This site is the hub of the Yardbarker Network, where our editors and algorithms curate the best sports content from our network and beyond.