Standard&Poor's Ratings Services revised the outlook to stable from negative on the long-term rating and underlying ratings (SPURs) on California Educational Facilities Authority and California Infrastructure and Economic Development Bank's debt outstanding for the University of Southern California (USC). The outlook revision is based on the university's maintenance of strong operating performance despite the acquisition of two hospitals from Tenet in 2009 and because of the limited negative effect the hospitals have had on overall university financial performance. We expect this effect to grow smaller with time as the hospitals become stronger. At the same time, we affirmed the 'AA+' long-term rating and SPURs on this same outstanding debt. The 'AA+' long-term rating reflects our view of: The
