Standard&Poor's Ratings Services has assigned its 'AAA' long-term rating to the series 2012 taxable revenue bonds issued by and for Northwestern University. At the same time, we affirmed our 'AAA' long-term rating on the university's series 2004A and 2004B adjustable-rate bonds subject to mandatory tender on March 3, 2014. We also affirmed our 'AAA' long-term rating on the university's series 2008-A and 2008-C adjustable-rate revenue bonds subject to mandatory tender on March 1, 2014, and series 2008-B bonds subject to mandatory tender on March 1, 2013. In addition, we affirmed our 'A-1+' short-term rating on Northwestern's taxable commercial paper (CP) program with an authorization of $300 million. All of Northwestern's debt is an unsecured general obligation of the
