“As state leaders continue to put off work on necessary pension reform, Moody’s Investors Service has more bad news for Illinois,” said Illinois State Treasurer Dan Rutherford. Moody’s has downgraded $1.56 billion of debt issued by the University of Illinois, and lowered the ratings on six other state universities including Illinois State University, Southern Illinois University, Eastern Illinois University, Western Illinois University, Northeastern Illinois University and Governors State University.      Login or Subscribe to read the rest of this story.