Nassar Scandal Pulls Michigan State Debt Outlook to Negative
- S&P Ratings cites management changes, potential lawsuit costs
- University president, athletic director departed this year
Former Michigan State University and USA Gymnastics doctor Larry Nassar arrives in court on Jan. 24, in Lansing, Michigan.
Photographer: Jeff Kowalsky/AFP via Getty Images
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Michigan State University’s credit rating outlook was revised to negative from stable by S&P Global Ratings as the school faces mounting scrutiny and financial obligations from sexual assault litigation against former Olympic gymnastics doctor Larry Nassar.
The rating company cited upheaval in senior management and the potential impact on enrollment and the school’s reputation, according to a report published Thursday.