NEW YORK (Standard&Poor's) May 12, 2008-- Standard&Poor's Ratings Services assigned its 'A-' issuer credit rating (ICR) to DePaul University, Ill. The 'A-' rating reflects the university's strong financial performance, with operating margins ranging from 7%-12% of adjusted operating expenses for the past four years; good demand, with a 20% annual increase in freshman applications to more than 12,400 for fall 2007; and growing liquidity, with unrestricted resources of $355 million representing 80% of adjusted operating expenses and 107% of pro forma debt. "The stable outlook reflects our expectation that DePaul University's financial performance will remain strong and demand will continue to grow," said Standard&Poor's credit analyst Gwendolyn Shufro. "Limited additional debt, continued strong operating
