NEW YORK (S&P Global Ratings) July 13, 2016--S&P Global Ratings affirmed its 'AA' long-term and underlying ratings (SPUR) on California Educational Facilities Authority's and other issuers' outstanding bonds issued for University of Southern California (USC). The outlook is stable. "We assessed USC's enterprise profile as extremely strong, characterized by increasing selectivity, and healthy retention and matriculation rates, as well as a history of successful fundraising," said S&P Global Ratings analyst Charlene Butterfield. "We assessed USC's financial profile as strong, characterized by sound operating performance and available resources and moderate debt burden." Combined, we believe these credit factors lead to an indicative stand-alone credit profile of 'aa-'. As our criteria indicate, the final rating can be within one notch of the
