NEW YORK (Standard&Poor's) July 10, 2002--Standard&Poor's said today it assigned its triple-'A' rating to the Massachusetts Health and Educational Facilities Authority's $150 million revenue bonds, series FF, issued for Harvard University. The outlook is stable. Standard&Poor's also said it affirmed its triple-'A' and 'A-1'-plus ratings on the outstanding debt issued for Harvard. The rating reflects the university's overwhelming financial resources, provided by an $18.3 billion endowment, valued on June 30, 2001; strong management of admissions, investments, and operations; and impressive demand for Harvard's academic programs. "The stable outlook reflects good management, financial resources that continue to exceed operating expenses and fixed obligations, and the anticipated maintenance of impressive demand," said credit analyst Mary Peloquin-Dodd.
