NEW YORK (Standard&Poor's) May 8, 2006--Standard&Poor's Ratings Services assigned its 'AAA' long-term rating and stable outlook to Harvard University, Mass.' $430 million taxable revenue bonds series 2006A, reflecting the university's overwhelming financial resources from its $25.9 billion endowment, strong revenue diversity, fund-raising ability, and impressive student demand for academic programs. At the same time, Standard&Poor's affirmed its 'AAA' long-term rating on the university's revenue bonds and its 'A-1+' short-term rating on the university's variable-rate demand bonds and CP notes, issued by the university or various authorities. The 'A-1+' rating reflects Harvard's general credit strengths and considerable experience in managing its own liquidity. The university demonstrates ample liquid assets of high credit quality, largely in
