NEW YORK (Standard&Poor's) July 14, 2006--Standard&Poor's Ratings Services assigned its 'AAA/A-1+' rating to Massachusetts Development Finance Agency's $225.8 million revenue bonds series 2006B bonds, issued for Harvard University, reflecting the university's overwhelming financial resources, strong revenue diversity, and impressive demand for academic programs. At the same time, Standard&Poor's affirmed its 'AAA/A-1+' rating on the authority's variable-rate demand bonds, also issued for the university. The outlook is stable. More specifically, the 'AAA' long-term rating reflects the university's financial resources, provided by an endowment of $25.9 billion as of June 30, 2005; strong revenue diversity and demonstrated ability to raise funds; and impressive demand for academic programs at the undergraduate, graduate, and professional levels. The 'A-1+'
