NY -- Standard&Poor's CreditWire 12/3/97 -- Standard&Poor's today assigned its single-'A' underlying rating to New Jersey Educational Facilities Authority's higher education revenue and refunding bonds series 1997D and E issued for Montclair State University. In addition, Standard&Poor's affirmed its single-'A' rating on the authority's college center bonds series 1972B issued for the university. The underlying rating reflects the university's position within the state higher education funding hierarchy, very good admissions flexibility, solid financial operations, and a manageable debt burden. Offsetting rating factors include limited financial flexibility and the likelihood that state appropriations will not grow measurably in the next few years. The university is the second largest in New Jersey with a headcount of
