The upgrade on Southern Illinois University Board Of Trustees, Ill. issued for Southern Illinois University reflects recognition of Southern Illinois University's position within the state higher education system, class II research status, and diverse program offerings. Overall stable demand trends and a low debt burden also support the rating. Standard & Poor's also expects the institution's financial position will benefit from Southern's new fund-raising and development effort and the state's improved financial health (G.O. debt rated 'AA'). Offsetting factors include historic modest state appropriation growth and limited financial liquidity relative to expenditures and mandatory transfers. Bonds are secured by net auxiliary system revenues and other fees that constitute a broad based unlimited student fee pledge. As one of 10 state-supported
