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As part of Standard & Poor's (S&P) periodic review, we are pleased to receive a reaffirmation of our BBB credit rating, which solidifies that the financial underpinnings of Iona College are strong. The College outlook was moved from a "stable" to a "negative" status as a result of decreases in the student population due to a weakening economy. Additionally, S&P takes into consideration the College's inaccurate past reporting of student performance data and its possible impact on future enrollment. Once discovered last August, the College fully disclosed the discrepancies and implemented a series of actions to prevent any recurrence.