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The following institutions had their bond ratings upgraded during May. Ratings, which reflect the relative financial strength of institutions, help determine their cost of borrowing.
* Boston University, by Moody's Investors Service, from A3 to A2. Applies to $1.2-billion in new and outstanding debt. Reasons cited include a history of operating surpluses bolstered by student demand for the university, growth in fund raising, and better investment oversight.
* Grossmont-Cuyamaca Community College District, by Standard & Poor's, from AA to AA. Applies to $179-million...