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AARP, District of Columbia; Health Care, Other; Higher Education, Non-Profit Organizations; Public Finance Structured, Joint Criteria Mar 03
Standard & Poors, March 2003
Abstract
AARP's 'AA' issuer credit rating and the 'AA' rating on the bonds issued for AARP 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; 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 the notes issued for AARP reflects the application of joint and several criteria with Bank of America N.A. The 'A-1+' short-term rating on the notes reflects an LOC...
Companies mentioned in this report are: AARP
Action: Outlook Revised
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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