Standard&Poor's Ratings Services assigned its 'AAA/A-1+' rating to Massachusetts Development Finance Agency's $225.8 million revenue bonds series 2006B bonds, issued for Harvard University. At the same time, Standard&Poor's affirmed its 'AAA/A-1+' rating on the authority's variable rate demand bonds, also issued for the university. The 'AAA' rating reflects the university's: Overwhelming financial resources provided by an endowment of $25.9 billion as of June 30, 2005; Strong revenue diversity and demonstrated ability to raise funds; and Impressive demand for academic programs at the undergraduate, graduate, and professional levels. The 'A-1+' rating reflects Harvard's general credit strengths and considerable experience in managing its own liquidity. Harvard demonstrates ample liquid assets of high credit quality, largely in U.S. Treasuries,
