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Phoenix fallout? Moody's places University of Idaho's bond rating under review – Idaho Capital Sun

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Phoenix fallout? Moody's places University of Idaho's bond rating under review – Idaho Capital Sun


This story was originally posted on IdahoEdNews.org on Feb. 19, 2024.

The $685 million University of Phoenix purchase could trigger a “multi-notch downgrade” in the University of Idaho’s bond rating, according to a newly issued report.

A downgrade could affect $130 million in existing U of I debt, according to an analysis from Moody’s Investors Service, a firm that issues credit ratings on public entities and private corporations worldwide.

U of I officials have long acknowledged that the Phoenix purchase could cause a downgrade. But they have also downplayed the risk, saying the university would be on the hook for no more than $10 million a year for bond payments. Four Three Education — a U of I-affiliated nonprofit — would finance the purchase, and university officials expect Four Three to comfortably cover bond payments.

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But Moody’s is skeptical.

In its report, issued Wednesday, Moody’s voices uncertainty about Four Three, and says the purchase still represents “a substantial increase of U of I’s total debt and leverage profile.” The report also refers, obliquely, to Phoenix’s “various legal and regulatory liabilities.” Consequently, purchasing the for-profit online university could expose the U of I to “potential future legal action” from the U.S. Department of Education.

The U of I currently has an A1 bond rating — a low risk, according to Moody’s rankings. Moddy’s had considered the U of I’s rating “stable,” before putting the rating under review last week.

And the review puts the U of I in a financial fog.

“We don’t have nearly enough detail to know where this could land,” Emily Raimes, a Moody’s associate managing director, told The Bond Buyer, a publication focused on municipal finance. “We just wanted to signal that (a downgrade) could be more than one notch. We try to be transparent, and if it’s capped at one notch, we would say that.”

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In a statement, the U of I said it would not address the specifics of the report until Moody’s “has a full understanding of this transaction.”

“University of Idaho has been expecting a reevaluation of our rating based (on) our desire to affiliate with University of Phoenix,” the U of I said in its statement. “It is unfortunate that Moody’s news release relies on false assumptions founded in uninformed public statements and incorrect media reports.”

Financing is one of several obstacles facing the U of I and Phoenix, as they hope to close the sale within the next few months.

An Idaho House committee introduced a resolution Thursday urging the State Board of Education to reconsider its support of the Phoenix purchase — threatening a possible lawsuit. And Attorney General Raúl Labrador has threatened to appeal a recent Ada County District Court ruling, which said the State Board’s closed-door discussions of the Phoenix purchase were legal.

More reading: Click here for our in-depth and up-to-the-minute Phoenix coverage.

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Coroner identifies Idaho Falls man killed in crash last month – East Idaho News

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Coroner identifies Idaho Falls man killed in crash last month – East Idaho News


EMMETT — An Idaho Falls man who died in a single-vehicle crash last month has been identified by a local coroner’s office.

In a news release from the Ada County Coroner’s Office on Wednesday, Coroner Richard Riffle identified the man as William Gutke, 41, of Idaho Falls. 

Idaho State Police had sent out a news release on Wednesday updating that the man had died. ISP told EastIdahoNews.com he died in the crash over a month ago. 

He was pronounced dead on April 12 after lifesaving measures were unsuccessful at Saint Alphonsus Regional Medical Center in Boise. He died from traumatic blunt force injuries from the accident, the news release from the coroner’s office said. 

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RELATED | Idaho Falls man dies following crash in Emmett

Background

The crash happened on April 10 at around 10 p.m. in Emmett at the intersection of East 12th Street and South Substation Road, according to Idaho State Police. 

The road was closed due to road construction at the intersection on Substation Road and Idaho Highway 16.

A Subaru Legacy, driven by Gutke, bypassed the road closure signs posted at the intersection of Idaho Highway 16 and South Substation Road, ISP said. Gutke continued north on Substation Road where the vehicle crashed into a large pile of dirt at the intersection of Substation Road and East 12th Street, where the vehicle came to a rest on the driver’s side. 

Gutke was transported by air ambulance to a hospital. ISP reported he was not wearing a seatbelt.

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The investigation is being conducted by Idaho State Police and the Gem County Sheriff’s Office.

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This Is How Many Transgender People Live In Idaho

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This Is How Many Transgender People Live In Idaho


Pride Month in Idaho is right around the corner, and in our opinion, one of the greatest ways to be an ally to the LGBTQIA+ community is to be more aware and educated. That got us wondering, how many people who identify as transgender live in our great state of Idaho?

Scroll To Read: This Is How Many Transgender People Live In Idaho

Country Singers Who’ve Come Out As Gay

Chely Wright was the first modern country singer to come out as gay when she did so in 2010. Since then hitmakers like Ty Herndon and T.J. Osborne of Brothers Osborne have shared their story. Here are more who’ve opened up to the world.

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We are so ready to celebrate all things Pride in Idaho, but were curious how many trans friends, family, and neighbors we have here in the Gem State. Since going door-to-door and asking every single person would be 1) Very weird, and 2) Massively inappropriate, we’re not going to do that! Also, that sounds like a lot of work. We left the heavy lifting to the professionals.

Now, to be completely clear, these numbers represent how many people openly identify as transgender. That being said, the numbers from the Williams Institute are pretty eye-opening!

According to their research, as of 2022, Idaho is home to upwards of 8,000 people ages 13+ who identify themselves as being transgender. For those at home playing along without a calculator, that adds up to just about 1% of all people in the state of Idaho!

Now that you know, let’s all get ready for Pride Month with a handy little guide on how you can be a better friend, neighbor, and ally!

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Now here’s something fascinating: A list of some rather famous actors who came out as LGBTQIA+ after filming a character under the same banner.

Actors Who Came Out After Playing an LGBTQ+ Character

Stacker referenced various news articles to compile a list of 25 celebrities who have come out after playing an LGBTQ+ character.

Gallery Credit: Cu Fleshman





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One-of-a-kind NASA jet donated to Idaho State University – East Idaho News

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One-of-a-kind NASA jet donated to Idaho State University – East Idaho News


The DC-8 was the first and largest flying science laboratory for 37 years. | Logan Ramsey, EastIdahoNews.com

POCATELLO — The engines of a historic research jet roared as it flew low toward its new home.

On Wednesday, this DC-8 jet, which belonged to NASA and served as the first and largest flying science laboratory for 37 years, landed at the ISU Aircraft Maintenance Technology Program Hangar. Now, ISU students will get the opportunity to prepare for their field by training on this aircraft.

“This aircraft has served as a premier flying science lab, contributing to groundbreaking research, and now it embarks on a new journey here at Idaho State University that will significantly impact our students and their futures,” said ISU President Robert Wagner.

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While many people think of rockets when they think of NASA, the organization’s research extends below the stars. For nearly four decades, the DC-8 assisted scientists in their research by gathering useful data.

“I’ve been part of missions where we do air-quality research, so we’re flying low over big cities like New York and Chicago to get air quality data,” said Kirsten Boogaard, the DC-8 deputy project manager of four years, in an interview with EastIdahoNews.com.

NASA also runs the Student Airborne Research Program, where students would come onboard the DC-8 and learn how to conduct scientific research.

“We always have grad students that are doing research real-time for their papers, their dissertations, real-time work on the aircraft,” Boogaard said.

Taylor McWane, product support manager at the Logistics Management Division Headquarters of NASA, said that it was a difficult decision to twilight the aircraft that had served NASA for so long.

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“You have to analyze the budget and make the determination of, ‘Does NASA have the resources to keep this older platform up and running for the next several years?’ And oftentimes, you have to make that difficult call and say no,” McWane said.

People approach the DC-8 to take a tour. | Logan Ramsey, EastIdahoNews.com

So how did this research plane ended up in the hands of an Idaho university?

Receiving this donation, the largest ever made from the federal government to the state, was spearheaded Ed Foster, a clinical instructor and coordinator with the College of Technology.

“His hard work and commitment have been instrumental in making this day possible, and we are incredibly grateful for his efforts,” Wagner said.

Wagner also offered thanks to Alan Evans — an ISU alumnus and the Pocatello Regional Airport manager — as well as the airport’s whole staff.

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Dean Jerry Anhorn of the College of Technology first became familiar with the prospect of receiving the jet when he got an email from Foster.

“Hey, suppose we could get this jet?” Anhorn said that the email read. “And it’s sitting here today.”

But Foster’s work began many months before that, when he found out that Idaho was selected by the federal government to receive the jet. To do this, Foster and Evans had to coordinate to make sure they would have the space to hold it.

ISU was the only entity in Idaho to apply to receive the donation, Foster said, so if they hadn’t been able to take it, the DC-8 would’ve gone to a different state.

Idaho State University DC 8 donation 2
An ISU sticker next to the other stickers acquired during the planes years of operation. | Logan Ramsey, EastIdahoNews.com

Anhorn said that the College of Technology prides itself on a hands-on approach to education, so receiving this aircraft was a pivotal moment.

“This is more than just a learning enhancement. It is the preparation for real-world challenges. The DC-8 will serve as an integral part of our curriculum, where students will conduct actual maintenance and repair tasks,” Anhorn said.

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Foster is excited that his students will have the opportunity to train on the DC-8.

“It’s actually rare for programs like ours across the country to have one because most people still want to use these aircraft, so we’re very fortunate and excited about that,” Foster said.

Boogaard said that throughout its use, the DC-8 has benefited education, and she’s happy to see it continue to serve students.

“Now it (will) continue that for future generations on the aircraft maintenance side, and I think that that’s really a beautiful thing,” Boogaard told EastIdahoNews.com.

Idaho State University DC 8 donation 4
A quote in front of the cockpit of the DC-8. | Logan Ramsey, EastIdahoNews.com

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