The rating on the University Of Pittsburgh (Pitt), Pa.'s bonds reflects the university's: * Role as a premier state-related institution; * Competitive admissions and good student quality; * Consistently good operating performance and substantial endowment; and * Manageable debt burden. Proceeds will be used to refund a portion of outstanding series 1992A bonds, secured by Pitt's G.O. Despite substantial public funding, Pitt has some private college characteristics. A majority of the board is nonpolitical appointments, and Pitt follows FASB standards for financial reporting. Management potential is good, guided by a new president and prominent board; key interim vice chancellor positions are expected to be filled shortly. Enrollment is relatively stable at 23,923 (full-time equivalents) in fall 1996. The main campus
