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New York City Trust for Cultural Resources Metropolitan Museum of Art; Non-Profit Organizations Nov 06 Product Image

New York City Trust for Cultural Resources Metropolitan Museum of Art; Non-Profit Organizations Nov 06

  • Published: November 2006
  • Standard & Poors

FEATURED COMPANIES

  • Metro Museum of Art
  • New York State Dorm Auth
  • MORE

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' rating to New York City Trust for Cultural Resources' revenue bonds, issued for the Metropolitan Museum of Art and affirmed its 'AAA/A-1+' rating on New York State Dormitory Authority's revenue bonds, issued for Metropolitan Museum of Art. The long-term 'AAA' rating reflects the museum's: Overwhelming levels of liquidity, demonstrated by more than $2.4 billion of cash and investments, compared with just $212 million of pro forma debt; Endowment that has increased significantly since the rating was last upgraded in 1995 and diversified from a more concentrated stock portfolio; Lower percentage of New York City operating support against total budget, and versatility in raising funds from other diverse sources; Significant capital improvements completed...

Companies mentioned in this report are:
- Metro Museum of Art
- New York City Trust for Cultural Resources
- New York State Dorm Auth

Action: New Rating

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured READ MORE >

- Metro Museum of Art
- New York City Trust for Cultural Resources
- New York State Dorm Auth

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