Standard&Poor's Ratings Services revised its rating outlook to positive on the Illinois Finance Authority's tax-exempt bonds, issued for Northwestern University. In addition, Standard&Poor's affirmed its 'AA+' rating on Northwestern's debt and affirmed its 'A-1+' rating on the university's outstanding parity short-term debt. The 'AA+' rating reflects the university's: Exceptional student quality (with a fall 2007 average SAT of 1421) and strong student demand for its comprehensive academic programs, evidenced by increasing freshman selectivity (to an impressive 24.8% in fall of 2007 from 34.2% in fall 2002); Excellent liquidity -- supported by approximately $6.5 billion of total investments -- further boosted by an estimated net cash receipt of $575 million on Dec. 19, 2007, related to the
