The ratings on the Massachusetts Health and Educational Facilities Authority's bonds, issued for the Massachusetts Institute of Technology (MIT), reflect the institute's unconditional GO to pay debt service, supported by: Overwhelming demand, excellent student quality, and increasingly competitive admissions; A preeminent research program; Impressive financial resources; Conservative management practices; and Highly manageable debt levels. MIT last sold $250 million of revenue bonds in 2001, to finance the first phase of the institute's major facilities plan. As a result of an updated capital plan and a strategic focus on the quality of life for students in the near term, MIT sold two series of variable-rate demand bonds, with put support provided by the university's own liquidity. MIT's resources have grown considerably
