The rating on Florida State Board of Regents' bonds, issued for Florida State University System, reflects: * A total enrollment exceeding 213,000 students; * The system's breadth and diverse academic offerings; * Strong state support; and * Low debt burden. The bonds are secured on parity with $160 million of revenue bonds, most of which is also secured by bond insurance. Security is a first lien pledge of two fees that students must pay upon enrollment. As such, they are evaluated as unlimited student fee bonds and receive the system's highest rating. In fiscal 1998, pledged revenues generated $23.5 million, or 1.33 times (x) coverage of maximum annual debt service. Proceeds will be used to finance, along with available cash,
