Standard&Poor's Ratings Services affirmed its 'AAA' long-term rating on Northwestern University, Ill.'s revenue bonds. The outlook remains stable. In addition, Standard&Poor's assigned its 'A-1+' short-term rating to the university's adjustable-rate revenue series 2004 and series 2008 bonds. Both series 2004 and series 2008 bonds are subject to mandatory tender on March 1, 2011, and are expected to be remarketed at that time into a similar mode. Additionally, the Standard&Poor's rating on Northwestern's outstanding commercial paper (CP) program, authorized for $200 million, is affirmed at 'A-1+'. The 'A-1+' rating reflects liquidity provided by the university itself. The ratings reflect our assessment of Northwestern University's: Solid financial resources, with an estimated long-term investment pool of about
