NEW YORK (Standard&Poor's) June 12, 2008--Standard&Poor's Ratings Services said today it raised the rating on Northwestern University Ill.'s debt to 'AAA' from 'AA+'. The outlook is stable. Standard&Poor's also assigned its 'AAA/A-1+' rating to the Illinois Finance Authority's $125 million variable-rate series 2008 bonds, issued for Northwestern. "The upgrade reflects strong growth in an already-large endowment compared to operating expenses and debt, continuation of strong demand, and the expectation that future debt will remain manageable," said Standard&Poor's credit analysts Gwendolyn Shufro. The 'AAA' rating also reflects the university's excellent liquidity, with a long-term investment pool of $7.3 billion as of April 30, 2008, high student quality and demand, a consistently strong operating
