NEW YORK (Standard&Poor's) Oct. 20, 2003NEW YORK (Standard&Poor's) Oct. 20, 2003—Standard&Poor's Ratings Services assigned its 'AAA/A-1+' ratings to Massachusetts Health and Educational Facilities Authority's $92 million variable-rate revenue bonds series HH, issued for Harvard University, reflecting the university's overwhelming financial resources, provided by an endowment of $19.3 billion (valued on June 30, 2003), and strong revenue diversity and demonstrated ability to raise funds; and impressive demand for Harvard's academic programs at both the undergraduate and graduate and professional levels. The outlook is stable based on the anticipated maintenance of impressive demand, financial resources that continue to exceed operating expenses and fixed obligations, and good management. The outlook also reflects the anticipation that any significant capital expansion of facilities on the university's
