Summary: New Jersey Educational Facilities Authority Princeton University; CP; Private Coll/Univ - General Obligation Jun 11

Standard & Poors, June 2011

Abstract
Standard & Poor's Ratings Services has assigned its 'AAA' long-term rating to the $275 million 2011 series B fixed-rate revenue bonds, to be issued by New Jersey Educational Facilities Authority for Princeton University. Standard & Poor's also affirmed its 'AAA' long-term rating on Princeton's previously issued debt, and its 'A-1+' short-term rating on the university's commercial paper (CP) program. The 'A-1+ rating on the CP program reflects liquidity provided by Princeton University to cover the purchase price of CP that is not successfully remarketed or rolled over. The 'AAA' rating reflects the university's general obligation pledge, supported by our assessment of Princeton's: Impressive demand for undergraduate and graduate programs; Historically strong financial performance; Good revenue diversity; Large investments and solid...

Companies mentioned in this report are: Princeton Univ,New Jersey Educl Facs Auth
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Princeton Univ,New Jersey Educl Facs Auth

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