AARP, District of Columbia; Joint Criteria; Non-Profit Organizations

S&P Global Ratings 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. The outlook is stable. In addition, S&P Global Ratings affirmed its 'AA/A-1' dual rating on the organization's series 2001A taxable notes. The rating remains on CreditWatch with positive implications. The 'AA' long-term component of the rating reflects the application of our joint criteria based on Bank of America N.A. (BOA) as the letter of credit provider and the 'AA' SPUR on AARP. The short-term component of the rating reflects the short-term rating on BOA. The 'AA' rating reflects our view of AARP's strong management team and prudent investment policies amid its operations as the nation's

...S&P Global Ratings affirmed its '##' issuer credit rating (ICR) on AARP, D.C., and its '##' long-term rating and underlying rating (SPUR) on AARP's debt. The outlook is stable. In addition, S&P Global Ratings affirmed its '##/A-1' dual rating on the organization's series 2001A taxable notes. The rating remains on CreditWatch with positive implications. The '##' long-term component of the rating reflects the application of our joint criteria based on Bank of America N.A. (BOA) as the letter of credit provider and the '##' SPUR on AARP. The short-term component of the rating reflects the short-term rating on BOA. 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 overall balance sheet low for the rating in relation to the organization's size and operations. However, when compared with debt, available resources are adequate for...

Full Report