Standard&Poor's Ratings Services raised its long-term rating to 'AA+' from 'AA' and raised its dual rating to 'AA+/A-1+' from 'AA/A-1+' rating on the University of Pittsburgh, Penn.'s (UP or the university) existing debt. At the same time, Standard&Poor's assigned its 'SP-1+' rating to UP's $100 million series 2014 Pitt asset notes. The 'SP-1+' rating is based on UP's history of solid market access and overall credit quality. The outlook, where applicable, is stable. The raised rating reflects our view that as a comprehensive research-based university, UP enjoys strong demand and enrollment measures, which have continually improved during the past decade, while having good revenue diversity, strong financial operating performance, and solid financial resource ratios for the
