NEW YORK (Standard&Poor's) May 18, 2006--Standard&Poor's Ratings Services has revised its rating outlook on New Jersey Educational Facilities Authority's debt, issued for Seton Hall University, to positive from stable. The rating service affirmed its 'A-' underlying rating (SPUR) on the debt. At the same time, the rating service assigned its 'A-' rating to the authority's $20.725 million revenue refunding bonds series 2006A, also issued for the university. The bonds are scheduled to sell on June 1. The rating and outlook revision reflect the university's history of solid operating performance; $219 million endowment as of March 31, 2006; niche as the largest Roman Catholic university in the state of New Jersey; good geographic draw, with 31% of
