Standard&Poor's Ratings Services assigned its 'SP-1+' rating to $78 million of the University of Pittsburgh, Pa.'s Pitt asset notes (informally called PANTHERS), reflecting the university's history of strong market access and underlying credit strengths. The notes are expected to price on July 25, 2006 and mature August 24, 2007. In addition, Standard&Poor's affirmed its 'AA' long-term and underlying rating (SPUR) on the university's long-term debt. It also affirmed its 'A-1+' rating on the university's variable-rate debt, reflecting the presence of liquidity support provided by external standby bond purchase agreements with a stated commitment of about $420 million. Proceeds of the series 2006 notes, much like the previous series, will be used for various equipment expenditures, capital
