AARP; Higher Education, Non-Profit Organizations; Public Finance Structured, Joint Criteria Oct 04

  • ID: 1930424
  • October 2004
  • Standard & Poors
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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
Action: Affirmed

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

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