The long-term ratings on Ohio Higher Educational Facility Commission's bonds, issued on behalf of Kenyon College, reflects: Competitive admissions and strong student quality, Good financial performance and liquidity levels, and Manageable debt burden. The short-term rating on the series 1998 bonds is based on a credit agreement provided as a liquidity facility by The First National Bank of Chicago, which provides liquidity support for the purchase price of unremarketed tendered bonds. The short-term ratings on the college's series 1992 and 1999 bonds are based on liquidity facilities provided by National City Bank, located in Cleveland, Ohio. The bonds are secured by the college's GO pledge. Kenyon College is a small liberal arts college located in Gambier, Ohio. Enrollment has been
