The effects of the Larry Nassar saga at Michigan State University are being felt as far as Wall Street.
The Wall Street rating firm Moody's Investor Services has downgraded MSU's long-term debt rating.
That's due to worries over the potential financial ramifications of a number of lawsuits the school is currently facing.
The action dropped MSU from an Aa1 rating to an Aa2 rating on roughly $975 million in debt.
Aa2 is the third highest credit rating that Moody’s assigns to fixed-income securities like bonds.