NEW YORK (Standard&Poor's CreditWire) April 9, 1999-NEW YORK (Standard&Poor's CreditWire) April 9, 1999-–Standard&Poor's today assigned its single-'A'-plus rating to Connecticut Health and Educational Facilities Authority's $7.5 million general obligation revenue and refunding bonds series 1999, issued for University of Connecticut Foundation, Inc. The sale date is expected to be April 26, 1999. The rating reflects: -- Successful fund-raising and a prudent investment philosophy, which has increased total net assets 135% over the past four years to $149 million for fiscal 1998; -- Considerable liquidity and financial flexibility with expendable resources representing 9.2 times (x) pro forma debt and 4.3x unrestricted expenses; -- A manageable debt burden with pro forma debt service representing only 3% of unrestricted expenses and no significant additional debt
