BOSTON (Standard&Poor's) Dec. 5, 2008--Standard&Poor's Ratings Services assigned its 'AAA' long-term rating to Harvard University, Mass.' $1.5 billion taxable series 2008D and $1 billion 2009A tax-exempt revenue bonds. 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 commercial paper (CP) notes, issued by the university or various authorities. The 'AAA' rating reflects the university's strong financial resources provided by an endowment of $36.9 billion as of June 30, 2008; however, the endowment was estimated to be down 22% as of Oct. 31, 2008. In addition, Harvard exhibits strong revenue diversity and fundraising ability, and reports balanced
