Standard&Poor's Ratings Services affirmed its 'A-1+' rating on Illinois Finance Authority's $200 million taxable commercial paper notes, series A, issued for Northwestern University, Ill. Standard&Poor's also affirmed the university's long-term 'AA+' bond rating and the 'AA+/A-1+' rating on outstanding variable-rate demand bonds. The 'AA+' long-term rating reflects the university's: Exceptional student quality and strong student demand; Strong liquidity, supported by a large endowment of $3.7 billion; History of balanced financial operations; Successful fund-raising efforts, exceeding the recent $1.4 billion campaign goal, and strong annual fund giving; Stable and prestigious board that has made significant financial contributions to the school; and Manageable debt burden. The 'A-1+' short-term ratings reflect Northwestern's provision of its own liquidity and its
