AARP, D.C.; Joint Criteria; Non-Profit Organizations

Standard&Poor's Ratings Services affirmed its 'AA' issuer credit rating (ICR) on AARP, D.C., and its 'AA' long-term rating and underlying rating (SPUR) on AARP's debt. In addition, Standard&Poor's affirmed its 'AAA/A-1' dual rating on the organization's series 2001A taxable notes. The outlook is stable. The 'AAA' long-term component of the 'AAA/A-1' rating reflects the application of our joint criteria based on JPMorgan Chase Bank N.A. as the letter of credit (LOC) provider and the 'AA' SPUR on AARP. The short-term component of the rating reflects the short-term rating on JPMorgan Chase. The 'AA' rating reflects our view of AARP's strong management team and prudent investment policies amid its operations as the nation's largest membership organization for

...Standard & Poor's Ratings Services affirmed its '##' issuer credit rating (ICR) on AARP, D.C., and its '##' long-term rating and underlying rating (SPUR) on AARP's debt. In addition, Standard & Poor's affirmed its '###/A-1' dual rating on the organization's series 2001A taxable notes. The outlook is stable. The '###' long-term component of the '###/A-1' rating reflects the application of our joint criteria based on JPMorgan Chase Bank N.A. as the letter of credit (LOC) provider and the '##' SPUR on AARP. The short-term component of the rating reflects the short-term rating on JPMorgan Chase. The '##' rating reflects our view of AARP's strong management team and prudent investment policies amid its operations as the nation's largest membership organization for individuals aged 50 and older. We consider the organization's overall balance sheet low for the rating in relation to the organization's size and operations, particularly in light of its slight weakening in fiscal 2014. However, when...

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