Standard&Poor's Ratings Services has affirmed its 'A' long-term rating on Southern Illinois University Board of Trustees' debt issued on behalf of Southern Illinois University (SIU). This includes SIU's certificates of participation (COPs) housing and auxiliary facilities system (HAFS) revenue bonds, and medical facilities system (MFS) bonds. The outlook is stable. We rate Illinois 'A-' with a negative outlook. Our rating on SIU remains one notch above that on the state. SIU is the second-largest public university in the state, and offers a comprehensive array of programs. In addition, SIU has sufficiently demonstrated its capacity to operate as a fairly independent enterprise in a competitive market, while maintaining favorable reserves and operating surpluses despite delays and reduction in state
