The underlying rating on New Jersey Education Facilities Authority's bonds, issued for Kean University, reflects stabilization of management, adequate state support, good demand flexibility, modest debt, and sound financial operations. The bonds are a GO of the university. The bonds are expected to receive an 'AAA' rating based on bond insurance. Following a period of uncertainty, Kean University hired a new president in 1996. With the new president on board, the university is able to go ahead with its planning process, including the projects financed with this bond issue. The projects are designed to enhance the attractiveness of the university and improve some aging infrastructure. Projects include campus beautification, improvements to athletic facilities, a much needed new academic building, and
