Summary: Massachusetts Institute of Technology; Private Coll/Univ - General Obligation

S&P Global Ratings assigned its 'AAA' long-term rating to Massachusetts Institute of Technology's (MIT) $350 million series G taxable revenue bonds. At the same time, S&P Global Ratings affirmed its 'AAA' and 'AAA/A-1+' ratings on MIT's existing debt, some of which is issued by MIT or by the Massachusetts Development Finance Agency (formerly known as the Massachusetts Health and Educational Facilities Authority). The outlook, where applicable, is stable. The 'A-1+' short-term rating reflects our view of MIT's general credit strengths and considerable experience in managing its own liquidity. MIT is providing its own liquidity to support its $250 million of series J-1 (swapped to fixed rate) and J-2 variable-rate demand bonds (VRDBs). We believe MIT demonstrates sufficient liquid assets of

...S&P Global Ratings assigned its '###' long-term rating to Massachusetts Institute of Technology's (MIT) $350 million series G taxable revenue bonds. At the same time, S&P Global Ratings affirmed its '###' and '###/A-1+' ratings on MIT's existing debt, some of which is issued by MIT or by the Massachusetts Development Finance Agency (formerly known as the Massachusetts Health and Educational Facilities Authority). The outlook, where applicable, is stable. The 'A-1+' short-term rating reflects our view of MIT's general credit strengths and considerable experience in managing its own liquidity. MIT is providing its own liquidity to support its $250 million of series J-1 (swapped to fixed rate) and J-2 variable-rate demand bonds (VRDBs). We believe MIT demonstrates sufficient liquid assets of high credit quality--largely in U.S. Treasuries--as well as a bank line that it can use, among other things, to cover the purchase price of VRDBs if any of the bonds are tendered but not successfully remarketed....

Summary