NEW BRUNSWICK, NJ—Standard & Poor’s ratings agency issued another downgrade to Rutgers University's credit, citing drained financial resources which came as a result of the Rutgers-UMDNJ merger.
The agency also lowered Rutger's long-term bond and debt ratings one notch from AA- to A+. Among other downgraded ratings were the commercial paper rating, which went from A-1 to A-1+.