Standard&Poor's Ratings Services affirmed its 'A-' rating on the Illinois Finance Authority's series 2008, 2011A, and 2011B revenue bonds, issued on behalf of DePaul University. Standard&Poor's also affirmed its 'A-' issuer credit rating (ICR) on DePaul University. The outlook is positive. Factors supporting the current rating include DePaul's strong operating performance, investment liquidity, and management of enrollment and growth. While we anticipate that enrollment growth may slow or level off compared with prior years, we believe this is not a credit risk due to management controls we consider strong and to positive operating margins. Financial resource ratios for fiscal 2011 are representative of the rating category, but may be somewhat overstated in that year due to
