The state's budget impasse has dropped Southern Illinois University's credit rating.
Moody's Investors Service says SIU's rating fell from A3 to Baa1 - with a negative outlook.
The firm says the university's "modest" liquidity position and reliance on state funding make it vulnerable to the ongoing stalemate.
Moody's says SIU's rating could go up, if the school can diversify its funding sources - but it also points out that the rating could drop again if the state's budget situation doesn't clear up.
SIU was not alone in the credit downgrade - five other state universities also were hit with the rating change on Monday.