OREANDA-NEWS. S&P Global Ratings assigned its 'AAA' long-term rating and stable outlook to Washington University (WU), Mo.'s series 2016B taxable bonds. At the same time, S&P Global Ratings affirmed its: 'AAA' long-term rating on the Missouri Health & Educational Facilities Authority's revenue bonds issued for WU; 'AAA/A-1+' rating on the series 1996C and 1996D bonds, based on the application of our joint criteria, reflecting a standby purchase agreement (SBPA) from Wells Fargo Bank N. A. (AA-/Stable/A-1+). We base our short-term rating solely on that of Wells Fargo. The SBPA expires Nov. 23, 2016;'AAA/A-1+' rating on the series 2000C and 2003B bonds, based on the application of our joint criteria, reflecting a SBPA from U. S. Bank N. A. (AA-/Stable/A-1+), which expires on Dec. 15, 2017; and 'AAA/A-1' rating on the series 1996A, 1996B, and 2000B bonds, based on the application of our joint criteria, reflecting a SBPA from JPMorgan Chase Bank N. A. (A+/Stable/A-1), which expires Oct. 14, 2016. The outlook, where applicable, is stable.

"The 'AAA' rating and stable outlook reflect our view of improved operating margins and expectation of a strengthening financial profile more consistent with the rating," said S&P Global Ratings credit analyst Ashley Ramchandani. The 'AAA' rating also reflects our view of WU's extremely strong enterprise profile, characterized by a sound enrollment and demand profile.