The rating on New Jersey Educational Facilities Authority's bonds, issued for Princeton University, reflects: Stable enrollment trends and highly selective admissions; Very prestigious academic reputation; Considerable financial flexibility afforded by a diverse revenue stream and substantial liquidity; and Growing, but manageable, debt burden. Bonds are secured by Princeton's GO pledge and will fund several capital projects including renovation and major maintenance projects for several dorms and academic buildings. The outlook is predicated on the expectation that Princeton will continue to exhibit the exceptional demand and financial features that have made it one of the nation's most competitive institutions of higher education.
