NY -- Standard&Poor's CreditWire 3/16/98 -- Standard&Poor's today affirmed its triple-'B'-minus rating on Connecticut Health&Education Facilities Authority's outstanding bonds series D issued for Quinnipiac College. The outlook is stable The rating reflects Quinnipiac College's high tuition dependence and low levels of operating and debt liquidity. In addition, Quinnipiac exists in a very competitive market as indicated by a growing financial aid burden and low matriculation rates. Offsetting factors include continued enrollment growth, consistent surplus generation and legal restrictions on the series D debt that require the build-up of reserve balances. Located in Hamden, Conn., Quinnipiac College currently enrolls 5,571 students, an increase of over 60% since 1990, largely reflecting the acquisition of the University
