NEW YORK (Standard&Poor's CreditWire) March 28, 2000--Standard&Poor's today assigned its triple-'B'-plus rating to Multnomah County, Ore.'s $17.42 million revenue bonds series 2000, issued for University of Portland. The bonds are scheduled to sell April 5, 2000. The rating reflects the university's GO pledge supported by: ý-- Growing headcount enrollment and improving demand; ý-- A long history of good operating performance; and ý-- Solid liquidity relative to operating expenses and pro forma debt. Other rating factors include limited admissions flexibility, rising tuition discounting and financial aid expenses, and a moderately high level of debt. Bond proceeds of $17.4 million will be used to construct new on-campus student housing, related facilities, and a parking garage. The housing project
