Moody’s Affirms University of Idaho / University of Phoenix Affiliation Poses Risk to State of Idaho

BOISE, Idaho (KMVT/KSVT) — On March 4, 2024, Moody’s Investors Service released a credit opinion and update for the State of Idaho. In this report, Moody’s declares the University of Idaho’s acquisition of the University of Phoenix poses risk to the state of Idaho.

According to Moody’s, “The potential acquisition of the University of Phoenix, the for-profit university, by an entity related to the University of Idaho (A1 rating under review for possible downgrade) presents some operating risk to the state… Because the university is a wholly owned business-type enterprise of the State of Idaho, the risks it assumes could become operating risks of the state.”

“Idaho taxpayers will pay increased costs if there is a downgrade to Idaho’s credit rating,” said Treasurer Julie Ellsworth.

Moody’s report was presented to Idaho’s Credit Rating Enhancement Committee on March 7th. The committee, chaired by Treasurer Ellsworth, advises the Governor and Legislature on policies and actions that enhance and preserve the state’s credit rating which helps maintain the future availability of low-cost financing.

Read Moody’s Credit Opinion in full report HERE.

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