Moody’s Investors Service has affirmed the Aa1, Aa1/VMIG1 and P-1 ratings on Cornell University’s outstanding bonds and commercial paper, and revised the outlook to stable from negative.

The stable outlook reflects a “rebound in philanthropy, ongoing focus on expense containment and improved operating performance in FY 2010 and 2011, and no additional direct debt anticipated in the next two years,” Moody’s said.

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