The rating on District of Columbia's bonds, issued for Howard University, reflects substantial levels of federal support—64% of unrestricted education and general revenues—and Howard's role as the nation's premier comprehensive, private minority institution. Since 1996, when Howard's debt was lowered to 'A+' from 'AA-', a new management team has successfully implemented measures that have begun to improve enrollment and demand trends and cut losses at the hospital. In addition, Howard has been successful at maintaining its federal support. Howard is one of two federally chartered universities and has received ongoing direct appropriations from the federal government every year since 1866. These appropriations totaled $182 million for fiscal 1996 and $196 million for fiscal 1997. For the current fiscal year, Howard's
