Standard&Poor's Ratings Services lowered its long-term rating to 'A' from 'A+' on Southern Illinois University Board of Trustees' series 2014A certificates of participation (COPs), issued on behalf of Southern Illinois University (SIU). Standard&Poor's also lowered its long-term rating and underlying rating (SPUR) to 'A' from 'A+' on the board of trustee's previously issued housing and auxiliary facilities system (HAFS) revenue bonds, COPs, and medical facilities system (MFS) bonds. In addition, the stand-alone credit profile has been lowered to 'a'. The outlook, where applicable, is stable. At the time of our previous review for SIU, Illinois was rated 'A' with a negative outlook. Illinois is currently rated 'A-' with a developing outlook. As the SIU rating remains
