Standard&Poor's Ratings Services has assigned its 'SP-1+' rating to the University of Pittsburgh (UP), Pa.'s series 2011 fixed-rate Pitt asset notes. In addition, Standard&Poor's has affirmed its 'AA' and 'AA/A-1+' ratings on UP's previously issued debt. We based the 'SP-1+' rating on UP's history of good market access, general credit characteristics, and overall solid financial profile. In Standard&Poor's opinion, the 'AA' long-term rating reflects UP's unsecured general obligation (GO) pledge, supported by the university's: Total headcount of 35,734 and solid demand with a fall 2010 acceptance rate that is increasingly selective at 58% and a matriculation rate of 29%, good student quality, and a comprehensive array of professional and general academic programs; Historically positive
