NEW YORK (Standard&Poor's) Aug. 16, 2012--Standard&Poor's Ratings Services lowered its rating on Pennsylvania Higher Educational Facilities Authority's series 2010 revenue bonds, issued for Thomas Jefferson University (TJU), one notch to 'A+' from 'AA-'. The outlook is stable. At the same time, the rating service assigned its 'A+' rating and stable outlook to the authority's $44.88 million series 2012 revenue bonds, issued for TJU. The downgrade reflects Standard&Poor's assessment of the university's low financial resources, which are below other 'AA' rated peer institutions and further pressured by the recent issuance of additional debt, coupled with a weaker operating performance in fiscal years 2010 and 2011. The downgrade also reflects the rating service's assessment of the
