Standard&Poor's Ratings Services affirmed its 'AAA' long-term and 'A-1+' short-term ratings on Massachusetts Institute of Technology's (MIT) debt issued by MIT and the Massachusetts Health&Educational Facilities Authority. The long-term rating reflects the institute's unconditional general obligation pledge, supported by: A preeminent research institute with $1.375 billion in research revenues in fiscal 2009; Strong financial resources provided by an endowment and similar funds of $8.7 billion as of March 31, 2010; Overwhelming demand, excellent student quality, and increasingly competitive admissions; Strong operating performance through good revenue diversity and demonstrated ability to raise funds; and High, but still manageable, debt levels. The 'A-1+' short-term rating reflects MIT's general credit strengths and considerable experience in managing its own liquidity.
