NEW YORK (Standard&Poor's CreditWire) May 5, 2000--Standard&Poor's today raised its rating on New Jersey Educational Facilities Authority's $4.68 million housing bonds series 1974D, 1977A, and 1977B, issued for Montclair State University, to single-'A' from triple-'B'-plus. Standard&Poor's also affirmed its single-'A' rating on the authority's $2.58 million college center bonds series 1972B, also issued for the university. The outlook is stable. The rating reflects: -- The university's position within the state higher education funding hierarchy, -- Very good admissions flexibility, and -- Solid financial operations. Offsetting rating factors include limited financial flexibility and the likelihood that state appropriations will not grow measurably in the next few years. The 1972B bonds are secured by the university's
