NEW YORK (Standard&Poor's) March 6, 2006--Standard&Poor's Ratings Services affirmed its 'A-1+' commercial paper rating and stable outlook on Massachusetts Health and Educational Facilities Authority's revenue bonds, series EE, issued for Harvard University, reflecting Harvard's general credit strengths and considerable experience in managing its own liquidity. The authorized amount of revenue notes is increasing to $1 billion from the previous authorization amount of $650 million. 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. More specifically, the 'A-1+' rating reflects Harvard's ample liquid assets of high credit quality, largely in U.S. Treasuries, which can be
