Moody's Investors Service last week placed the University of Medicine and Dentistry of New Jersey on watch list for possible downgrade due to higher than expected operating losses for the first half of fiscal 2008, which began July 1, and increasing risks to the school's debt structure.

Moody's rates UMDNJ's $668 million of outstanding debt Baa2 while Standard & Poor's assigns its BBB to the credit.

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