Standard & Poor's Ratings Services said it revised its outlook to negative from stable on Rutgers University, N.J.

"The outlook revision to negative and affirmation of the AA long-term rating reflects our view that Rutgers faces increased credit risk from the scheduled (effective) assumption this summer of substantial assets and related liabilities of University of Medicine & Dentistry of New Jersey (UMDNJ; BBB-plus/developing SPUR) associated with the implementation of the New Jersey Medical and Health Sciences Education Restructuring Act passed by the New Jersey legislature on June 28, 2012, signed into law by the governor on Aug. 22, 2012, and effective July 1, 2013," said Standard & Poor's credit analyst Ken Rodgers.

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