NEW YORK (Standard&Poor's CreditWire) March 13, 2001--Standard&Poor's today affirmed its triple-'A' rating on the Massachusetts Health and Educational Facilities Authority's $132.54 million revenue bonds and $125 million taxable medium term notes, issued for the Massachusetts Institute of Technology (MIT). The rating reflects the institute's unconditional GO to pay debt service, supported by: -- Overwhelming demand, excellent student quality, and increasingly competitive admissions; -- A preeminent research program; -- Impressive financial resources; and -- Low debt. The institute last sold debt in 1998 to refinance $25 million in outstanding variable rate demand bonds and a $34.2 million bank note used to renovate an academic building on campus. The institute is updating its already-updated capital plan and expects
