Summary: District of Columbia AARP; Joint Criteria; Non-Profit Organizations

S&P Global Ratings affirmed its 'AA' issuer credit rating (ICR) on AARP, D.C., and affirmed 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 '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 outlook is stable. The 'AA' ratings reflect our view of AARP's strong brand, experienced management team, and prudent investment policies amid its operations as the nation's largest

...S&P Global Ratings affirmed its '##' issuer credit rating (ICR) on AARP, D.C., and affirmed 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 '##+' 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 outlook is stable. The '##' ratings reflect our view of AARP's strong brand, experienced management team, and prudent investment policies amid its operations as the nation's largest membership organization for individuals aged 50 and older. The ratings further reflect our view of AARP's robust balance sheet, which has shown a general trend of growth over time. A higher rating is precluded by the organization's somewhat risky...

Summary