Article: S&P Rates Niagara County IDA, N.Y./Niagara University Revenues BBB.

NEW YORK, Oct. 9 /PRNewswire/ -- Standard & Poor's today assigned its triple-'B' underlying rating (SPUR) to Niagara County Industrial Development Agency, N.Y.'s revenue bonds series 1998A dated Oct. 15, 1998 due Oct. 1, 2023, issued for Niagara University. The bonds, which are expected to receive a triple-'A' rating based on AMBAC bond insurance, are scheduled to sell Oct. 15, 1998.

The rating reflects:

-- A solid balance sheet characterized by growing liquidity and light

debt,

-- Reasonable operating performance tempered by growing tuition discount

rates, and

-- An adequate demand profile.

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