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Andrew W. Mellon Foundation; Non-Profit Organizations Mar 12
Standard & Poors, March 2012
Standard & Poor's Ratings Services has assigned its 'AAA' long-term rating to the series 2009 taxable bonds issued for the Andrew W. Mellon Foundation, N.Y. In addition, Standard & Poor's affirmed its 'AAA/A-1+' dual rating on the $44 million series 2008 variable-rate taxable revenue bonds. The long-term component of the dual rating reflects our assessment of the foundation's very large endowment and financial resources relative to a low debt level. The short-term component of the dual rating reflects the foundation's provision of self-liquidity in the event of an investor put or a failed remarketing. The long-term rating reflects our view of the institution's: Very strong financial resources with expendable resources of $5.4 billion or 19x operations and 19.5x outstanding debt...
Companies mentioned in this report are: Andrew W. Mellon Foundation
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
Andrew W. Mellon Foundation