Standard&Poor's Ratings Services assigned its 'A-1+' short-term rating to The Salvation Army's (a New York corporation) series 2007A and 2007B CP. At the same time, Standard&Poor's assigned its 'AA-' issuer credit rating (ICR) on the organization, abbreviated as TSA East, reflecting: The organization's long-established status as a charity; Ongoing fundraising and governmental contract success enabled by TSA East's strong name recognition and historical association as a social service and disaster assistance provider; Good financial stewardship and demonstrated ability to adapt financially; Historically solid financial performance; and Good coverage of expected debt, with unrestricted resources covering the full amount of authorized CP by 2.49x. While contract and fundraising trends have fluctuated and are often influenced by world
