NEW YORK (Standard&Poor's) March 23, 2009--Standard&Poor's Rating Services affirmed its 'AAA' long-term rating on Northwestern University's outstanding revenue bonds. In addition, Standard&Poor's affirmed its 'AAA/A-1+' ratings on the Illinois Finance Authority's series 2004-A adjustable-rate revenue bonds ( $67.9 million) and series 2008-A bonds ( $50 million), which are expected to convert to a 364-day adjustable-rate mode on April 1, 2009. We have evaluated the university's self-liquidity and expect to assign an 'A-1+' short-term rating on the series 2004-A and 2008-A bonds, which reflects the system's general credit strengths and strong management team. Standard&Poor's also affirmed its ratings on the authority's adjustable-rate revenue bonds series 2004-B ($67.9 million); series 2008-B bonds ( $50
