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Penn State's latest issue: Its credit rating

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Penn State's latest issue: Its credit rating

From Comcast SportsNet
NEW YORK (AP) -- Moody's Investors Service said Monday it may cut its rating on Penn State's credit as the university deals with the fallout from the Jerry Sandusky child sexual-abuse case and sanctions against the school's football team. The agency has an Aa1' rating on Pennsylvania State University's credit. That is its second-highest possible rating. The firm said a recent report by former FBI Director Louis Freeh and sanctions levied by the NCAA could hurt student enrollment and fundraising for the university, and the school also faces uncertainty in the form of ongoing federal and state investigations. Penn State has about 1 billion in debt, Moody's said. A downgrade could make it more expensive for Penn State to borrow money, which would be another long-term cost in a scandal that has already cost the school immeasurably. The announcement comes a day after the NCAA fined Penn State 60 million, banned the school from playing in postseason bowl games for four years, and stripped the team of dozens of scholarships, among other penalties. The Big Ten conference levied additional sanctions. Earlier this month, Freeh delivered a report on the actions of Penn State leadership and its athletic department surrounding the actions of Sandusky, a former football coach who awaits sentencing after been convicted of 45 charges related to child abuse. Moody's said the report and other investigations "collectively point directly to weaknesses in the university's management and governance practices." The firm said that until before the Freeh report and the NCAA sanctions, it did not see evidence of weakness in enrollment or fundraising.

Francesco Molinari wins Open Championship for first career major title

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USA TODAY Sports

Francesco Molinari wins Open Championship for first career major title

It was only a mere three weeks ago that Francesco Molinari closed with a final round 62 en route to a dominant eight-shot victory at the 2018 Quicken Loans National. 

On Sunday, his eight-under total was good enough for a two-shot win over Rory McIlroy, Justin Rose, Kevin Kisner and Xander Schauffele.

The 35-year-old played his final round alongside Tiger Woods, who shot a 5-under-par 66 in Saturday's third round that left him at 5 under through 54 holes and four shots back of the leaders. His 66 was his first weekend round in the 60s in the Open since 2007.

The 14-time major winner had to settle for a closing round of 71 on Sunday. It was his first Open since missing the cut at St. Andrews in 2015.

Molinari continues to be one of the world's hottest golfers, notching his third win in the last five starts. 

Some of golf's best weighed in on Sunday: 

When it was all said and done, on a day that featured difficult Carnoustie wind conditions, Francesco Molinari emerged victorious hoisting the Claret Jug. 

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Nationals trade Brian Goodwin to Kansas City Royals

Nationals trade Brian Goodwin to Kansas City Royals

KANSAS CITY, Mo.  -- Outfielder Brian Goodwin has been acquired by the Kansas City Royals from the Washington Nationals for minor league pitcher Jacob Condra-Bogan.

The 27-year-old Goodwin hit .200 with three homers and 12 RBIs in 48 games for the Nationals this season. He bruised his left wrist diving for a ball and did not play from April 15 until May 15, when he had two at-bats. He went back on the disabled list, returned June 1 and is hitting .171 (7 for 41) since.

Condra-Bogan, 23, went 1-1 with a 2.08 ERA in 16 relief outings with Lexington of the South Atlantic League and one appearance with Wilmington of the Carolina League, also Class A.

The trade was announced Sunday.

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