Standard&Poor's Ratings Services assigned various ratings to University of Pittsburgh, Pa.'s outstanding series 2000A, 2002B, 2005A, 2005B, and 2005C variable-rate demand bonds (VRDBs) due to the conversion to fixed-rate, term-rate, or commercial paper (CP) mode from a weekly mode. The current standby bond purchase agreements (SBPA) on the series 2000A, 2005A, 2005B, and 2005C from Depfa Bank PLC and the series 2002B from Dexia Credit Local will terminate on the conversion date. The university expects the bonds to convert on Dec. 17, 2008. The following ratings to the respective series and maturities will apply after the conversions. For the $84,700,000 series 2000A bonds: $29,900,000 with a 2009 maturity date will convert to a fixed-rate mode with an 'A-1+'
