Standard&Poor's Ratings Services affirmed its 'A-1+' short-term rating on The Salvation Army USA Eastern Territory (TSA), N.Y.'s series 2007A commercial paper (CP) and affirmed its 'AA-' issuer credit rating (ICR), with a stable outlook, on the TSA. The ICR does not refer to any debt instrument, and it reflects our view of the TSA's overall long-term credit quality. The ratings reflect our opinion of the organization's long record of successful operations; name recognition; and strong and generally stable financial resources, supported by a large investment portfolio. In our view, the TSA's financial profile has grown a bit weaker over time due to its rising debt; investment market volatility; and dependence on fundraising, which responds to investment market trends