Standard&Poor's Ratings Services revised its rating on the series 2004A and 2008A variable-rate demand bonds issued for Northwestern University, Ill. to 'A-1+' from 'SP-1+'. The initial rating was incorrectly assigned earlier today. Prior to their conversion to a fixed-rate 364-day mode on April 1, 2009, Standard&Poor's rated the variable-rate demand bonds 'AAA/A-1+' because they were in weekly demand modes. Starting on April 1, 2009, the 'A-1+' rating reflects the application of our dual rating criteria. For our full analysis on the university, see the report published Feb. 3, 2009, on RatingsDirect. The stable outlook on the university's 'AAA' long-term rating reflects our expectation that financial resources will remain consistent with the rating category, operating performance will
