NEW YORK (Standard&Poor's CreditWire) Aug. 11, 1999--Standard&Poor's today assigned its single-'A'-plus rating to Connecticut Health&Educational Facilities Authority's $10 million revenue bonds series A, issued for Miss Porter's School. The bonds are scheduled to sell Aug. 19, 1999. The rating reflects the school's: -- Sound liquidity levels with $57 million in endowment funds as of June 30, 1999, equal to $190,000 per student; -- Long history of balanced financial operations with average annual surpluses of $2.3 million since 1996; -- Financial flexibility afforded by lowering endowment spending and lack of tenure system; -- Very manageable pro forma debt service; -- Improving demand profile and low attrition rate; and -- Strong management team with clear vision
