NY -- Standard&Poor's CreditWire 6/25/97 -- Standard&Poor's today has raised its rating on New Jersey Educational Facilities Authority's $27.7 million revenue bonds, issued for Seton Hall University, to triple-`B'-plus from triple-`B'. The rating upgrade reflects strong operating results, good liquidity, strong graduate admissions, and the overall size of the university's programs. These factors are offset by overall enrollment declines, a weak undergraduate matriculation rate, and a high debt burden. Seton Hall has consistently generated operating surpluses, which have ranged from $3.8 million to $12 million. Fiscal year-end 1997 results are not available; however, the university expects to break even after spending about $3 million from operations on the newly instituted early retirement program. The market value
