AARP; Higher Education, Non-Profit Organizations; Public Finance Structured, Joint Criteria Oct 04
- ID: 1930424
- October 2004
- Standard & Poors
The 'AA' issuer credit rating and the 'AA' rating on AARP's outstanding debt reflect: An immense and loyal membership base of over 35 million, which represents 45% of all Americans over 50; Favorable demographic trends; Good historical operating performance; Significant revenue diversity and a flexible cost structure; A sizable investment portfolio, with cash and investments totaling $1.2 billion as of July 2004; A recently launched strategic plan that stresses delivering value to members and working with others to bring about improved quality of life for all persons as they age; and No plans for additional debt. The 'AAA' long-term rating on AARP's series 2001A taxable notes reflects the application of joint and several criteria with Bank of America N.A. The...
Companies mentioned in this report are: AARP
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