Standard&Poor's Ratings Services assigned its BBB+ rating to Oregon Facilities Authority's revenue bonds series 2007A, issued for the University of Portland, and affirmed its 'BBB+' rating and 'BBB+' underlying rating (SPUR) on Multnomah County, Ore.'s outstanding bonds, issued for the University of Portland. The rating reflects the university's GO pledge, supported by: A history of balanced operating performance, with more than $2 million operating surpluses in fiscals 2005 and 2006 and $4.5 million in fiscal 2007; Solid regional niche as a Roman Catholic university; Stable headcount and a growing application pool; and Growing endowment ($106.3 million) with a more conservative spending policy of 4.5% adopted for fiscal 2008. Offsetting rating factors include the university's high tuition discount rate
