Morehouse College, the alma mater of Martin Luther King, Jr., has received a credit rating that’s barely investment grade, and with a negative outlook, on $23.4 million in bonds to be sold this week. The rating is just three notches above a rating of speculative.

Kennesaw State University has received a credit rating that’s solid investment grade, and stable, on $41.6 million in bonds slated for sale last month.

These two ratings illustrate the divergence of credit risk among Georgia’s institutions of higher learning. As state lawmakers consider Gov. Nathan Deal’s proposal to borrow almost $200 million this year to expand facilities at public colleges and universities, they face going to market in a sector dinged as negative across the board by Moody’s Investors Services.