S&P Global Ratings assigned its 'AAA' long-term rating to Yale University (Yale), Conn.'s $400 million revenue bonds (taxable), series 2025A, and Connecticut Health and Educational Facilities Authority 's $500 million revenue bonds, series 2025B, issued for Yale. S&P Global Ratings also affirmed its 'AAA' long-term rating, its 'AAA/A-1+' dual rating, and its 'A-1+' commercial paper (CP) rating on various series of bonds or CP issued by either Connecticut Health and Educational Facilities Authority or Yale, on behalf of Yale. The outlook, where applicable, is stable. Yale's obligation to pay its debt is based on an unsecured general obligation pledge. The university had total debt of approximately $5 billion outstanding as of June 30, 2024. This includes about $240 million of
