Standard&Poor's Ratings Services assigned its 'AAA' rating to the Massachusetts Health and Educational Facilities Authority's revenue bonds, series M, issued for the Massachusetts Institute of Technology (MIT). Standard&Poor's also affirmed its 'AAA' and 'A-1+' ratings on the outstanding debt issued for MIT. The ratings reflect the institute's unconditional general obligation pledge, supported by overwhelming demand, excellent student quality, and increasingly competitive admissions; a preeminent research program; impressive financial resources; conservative management practices; and high, but still manageable, debt levels. MIT sold $250 million of revenue bonds in 2001 (series J), $230 million in 2002 (series K), and $220 million in 2003 (series L) to help finance a comprehensive, multiphase, $1.2 billion capital facilities plan, which involved
