Moody’s downgrades Concordia, warns McGill about weakened financial outlook


The Montreal Gazette reports that Moody’s credit rating agency has downgraded Concordia University and is warning McGill University about a weakened financial outlook, due to an anticipated drop in enrolment. The change reportedly stems from the Government of Québec’s tuition hike and policy changes, which Moody’s expects will deter out-of-province and international students. Concordia’s baseline credit assessment and its senior unsecured long-term debt ratings were both downgraded, while McGill’s baseline credit assessment was downgraded and its senior unsecured long-term debt rating remains the same.

Montreal Gazette