Standard & Poor’s last week raised to A from A-minus Alabama State University’s rating, affecting $140 million of debt.

The agency said the higher rating reflected continued strong operating performance with a trend of operating surpluses for the past five fiscal years, solid support from the state, an upward matriculation rate at 29% in the fall of last year, and adequate liquidity levels with 2007 unrestricted net assets of $21 million equal to 19% of operating expenses and 15% of outstanding debt.

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