NY -- Standard&Poor's CreditWire 7/24/98 – Standard&Poor's today assigned its single-'A' rating to New Jersey Educational Facilities Authority's revenue bonds series 1998 I issued for Stevens Institute of Technology, N.J. In addition, Standard&Poor's raised its rating on the authority's outstanding bonds series 1992 issued for Stevens Institute of Technology to single-'A' from single-'A'-minus. The outlook is stable. The rating reflects: -- Steady increases in enrollment driven by stronger undergraduate matriculations, improved retention, and expanded off-campus graduate programs; -- The excellent condition of the institute's plant and limited debt needs; -- Successful completion of a major capital campaign; and --ýImproved liquidity ratios. Bond proceeds will refund $6 million of outstanding series 1992A bonds and fund
