Standard&Poor's Ratings Services assigned its 'AAA' long-term rating to Harvard University, Mass.' $730 million series 2010B tax-exempt, fixed-rate revenue bonds and $300 million series 2010C taxable bonds, also issued as fixed-rate debt. The outlook is stable. At the same time, Standard&Poor's affirmed its 'AAA' long-term rating on the university's previously issued revenue bonds, and its 'A-1+' short-term rating on the university's variable-rate demand bonds and commercial paper (CP) notes, issued by the university or various authorities. The 'AAA' rating reflects our view of the university's: Impressive level of financial resources provided by an endowment of $27.6 billion as of June 30, 2010, which despite a modest recovery was still lower than the market value of $36.9
