Standard&Poor's Ratings Services has assigned its 'AAA' rating to the Massachusetts Health and Educational Facilities Authority's revenue bonds, series L, issued for the Massachusetts Institute of Technology (MIT). Standard&Poor's has also affirmed 'AAA' and 'A-1+' ratings on the outstanding debt issued for MIT. The ratings reflect the institute's unconditional general obligation pledge, supported by overwhelming demand, excellent student quality, and increasingly competitive admissions; a preeminent research program; impressive financial resources; conservative management practices; and manageable debt levels. MIT sold $250 million of revenue bonds in 2001 (series J) and $230 million in 2002 (series K) to help finance a comprehensive, $750 million capital facilities plan, which involved substantial construction on the institute's Cambridge campus. Projects include
