| Abstract: | Standard&Poor's Ratings Services assigned its 'AA' long-term rating to Emory University, Ga.'s approximately $99 million series 2009C revenue bonds. Standard&Poor's also affirmed its ratings on Emory's previously issued revenue debt. The 'AA' long-term rating reflects the university's general obligation (GO) pledge. The outlook is stable. The long-term 'AA' rating is supported by: A diverse revenue base with hospital operations, tuition and auxiliary, grants and contracts, and endowment spending comprising 54.4%, 15.2%, 8.5%, and 7.0%, of fiscal 2008 total revenue, respectively; A sizeable long-term investment portfolio estimated at $4.75 billion as of May 31, 2009; Comprehensive academic programs, strong student quality, and highly competitive demand; Strong fundraising success with $928 million raised to date of its $1.6
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