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American Psychological Assn., District Of Columbia; Joint Criteria; Non-Profit Organizations Dec 11
Standard & Poors, Dec 2011
Abstract
Standard & Poor's Ratings Services has lowered its long-term rating component on the American Psychological Assn. (APA), D.C.'s series 2003 variable-rate bonds to 'AA+' from 'AAA' and affirmed the 'A-1' short-term rating component. The 'AA+' long-term rating component reflects Standard & Poor's low-correlation joint criteria and is based jointly on our 'BBB+' underlying rating (SPUR) on APA and the Bank of America N.A. ('A/A-1') letter of credit (LOC). We based the short-term rating component solely on the bank LOC. On Nov. 29, 2011, Standard & Poor's lowered the long-term rating on Bank of America to 'A' from 'A+'. For more information, see 'Bank of America Corp. And Operating Subsidiary Downgraded; Outlook Negative,' published on RatingsDirect on the Global Credit Portal....
Companies mentioned in this report are: American Psychological Assn
Action: New Rating
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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