The rating on New Jersey Education Facilities Authority, N.J. 's bonds, issued for Stevens Institute of Technology, reflects: * Steady increases in enrollment driven by stronger undergraduate matriculations, improved retention, and expanded off-campus graduate programs; * The excellent condition of the institute's plant and limited debt needs; * Successful completion of a major capital campaign; and * Improved liquidity ratios. Bond proceeds will refund $6 million of outstanding series 1992A bonds and fund various improvements. The institute sits on an enviable 55-acre promotory in Hoboken, New Jersey overlooking the Hudson River and Manhattan. Since 1992, this site has been greatly enhanced. Proceeds from series 1992 funded an expansive recreation facility. In addition, regular allocations from the operating budget, private gifts,
