BOSTON -- Moody's Investors Service said yesterday it has added two professionals to its higher education ratings group because of rule changes by the Financial Accounting Standards Board.

In a release, the rating agency said Tom Calibeo has come on board as an assistant vice president, and Susan Fitzgerald as an analyst.

"These hires will help us to evaluate some of the changes taking place in the higher education industry," said Howard Cure, vice president and manager of Moody's higher education group.

Changes in Rules 116 and 117 by FASB will alter how universities deal with budgets and funding, and will require Moody's to have a more intimate knowledge of the education industry, Cure said. To understand the rule changes, Moody's needed to bring in two professionals who have worked with higher education institutions, he said.

Calibeo spent the past 10 years at KPMG Peat Marwick, a management consulting firm, where he was a member of the firm's higher education, research, and not-for-profit division.

His clients included Temple University, the Commonwealth of Pennsylvania State System of Higher Education, Drexel University, and the YMCA of Greater Philadelphia.

Calibeo is a graduate of Pennsylvania State University.

Fitzgerald was manager of corporate and foundation relations, government grants, and special fellowships at the Paul Nitze School of Advanced International Studies at Johns Hopkins University.

Before that, she worked as an assistant program officer for the International Foundation.

With Calibeo and Fitzgerald, Moody's higher education group now totals nine professionals.

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