Standard&Poor's Ratings Services affirmed it's 'A-1+' short-term rating on Harvard University's taxable CP notes. At the same time, Standard&Poor's affirmed its 'AAA' long-term and 'AAA/A-1+' ratings on Harvard's outstanding fixed-rate and variable-rate demand bonds, and tax-exempt CP, issued by various issuers. The university is increasing the amount of taxable CP authorized to $1 billion from the current $650 million. As of Dec. 31, 2006, the university had approximately $468 million in taxable CP outstanding. The 'AAA' rating reflects the university's: Overwhelming financial resources provided by an endowment of $29.2 billion as of June 30, 2006; Strong revenue diversity and exceptional fundraising history; Impressive demand for academic programs at the undergraduate, graduate, and professional levels. The 'A-1+'
