By WMBD TV

NORMAL – It’s been nearly two years since Illinois lawmakers and Gov. Bruce Rauner agreed on a budget and state colleges and universities have felt the pinch of cuts and missed payments.

Illinois State University and nearly a dozen other state universities were issued a warning last week by S&P credit agency.

The longer Illinois’ budgetary mess goes on the more their credit worthiness is in question. ISU was placed on a “credit watch.”

S&P downgraded ratings for University of Illinois, Eastern Illinois University, Northeastern Illinois University, Southern Illinois University, Governors State University and Western Illinois University.

ISU’s ‘A’ rating remains intact, but further inaction by the legislature could mean higher borrowing costs down the road.

ISU spokesman Eric Jome told news partner WMBD having full auxiliary facilities is a bright spot for the university.

“Those would be residence halls. people paying you use those facilities. the demand for students to still use residence hall space is still high. so, our halls are full.”

ISU was previously placed on a credit watchlist several months ago.

The school’s administration stressed that the university’s upcoming decision to not raise tuition or fees didn’t play a role in the ratings.