Standard&Poor's Ratings Services assigned its 'AAA' long-term rating to New Jersey Educational Facilities Authority's (NJEFA) series 2016A and 2016B tax?exempt revenue bonds, issued on behalf of Princeton University. We also assigned our 'AAA' long?term rating to series 2016 taxable bonds issued by the university. At the same time, we affirmed our 'AAA' long?term ratings on bonds issued by Princeton, and on NJEFA's revenue bonds, issued on behalf of the university. The outlook on the long-term ratings is stable. In addition, Standard&Poor's also affirmed its 'A?1+' short?term rating on the university's outstanding tax?exempt and taxable commercial paper (CP) program issued through NJEFA and the taxable CP program issued directly by Princeton. The 'AAA' rating reflects our view
