"New Jersey City University announced massive cuts to its academic programs along with reductions to its faculty. This begins by cutting more than one third of its... — read more 

https://www.fitchratings.com/research/us-public-finance/fitch-affirms-new-jersey-city-university-nj-revs-at-bb-outlook-negative-22-11-2022

https://www.moodys.com/research/Moodys-downgrades-New-Jersey-City-University-NJ-to-Ba2-outlook--PR_907859496

https://www.insidehighered.com/news/2022/08/12/new-jersey-university-faces-scrutiny-amid-financial-emergency

Less than 24 hours after New Jersey City University officials announced a “financial emergency,” employees at the Jersey City school began paying the price — virtual pink slips in their email. At its quarterly meeting Monday, the board of trustees... — read more 

"The 'BBB-' ratings continue to incorporate NJCU's high leverage, historically thin cash flow, and moderate demand indicators with a trend of declining enrollment. Despite its materially improved liquidity and leverage position through fiscal 2021... — read more