NEW YORK (Standard&Poor's CreditWire) July 19, 2000-- Standard&Poor's today assigned its double-'A' rating to New Jersey Educational Facilities Authority's $132.8 million revenue bonds series 2000A due Sept. 1, 2020. The bonds are scheduled to sell July 25, 2000. The outlook is stable. The rating reflects: -- The general creditworthiness of the state of New Jersey as lessee; -- The strong essentiality of funding capital expenditures for institutions of higher education statewide; -- The additional strength provided by the master contract structure; -- The state's demonstrated commitment, within both the administrative and legislative branches, to repaying its appropriations-backed obligations; and -- Strong contractual provisions that include an absolute and unconditional payment provision upon annual appropriation. The rating
