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NATIONAL GEOGRAPHIC SOCIETY, DC - Moody's Research Report

Moody's assigns Aa2 issuer rating to National Geographic Society; outlook is stable

Posted on: July 3, 2012, 5:15 pm

NEW YORK, July 03, 2012 --Moody's Investors Service has assigned a Aa2 issuer rating to the National Geographic Society's (NGS). The outlook remains stable. We are assigning the issuer rating in conjunction with the July 2, 2012 redemption of the $24.3 million of previously outstanding Series 2000 Revenue Bonds issued through the District of Columbia. The remaining rated debt is $80 million of NGSP, Inc., Taxable Variable Rate Demand Bonds, Series 2006 rated A3/VMIG 2 based solely on a letter of credit with Bank of America. NGS plans to replace the letter of credit with a Well Fargo Bank, NA (rated Aa3/P-1) agreement in the coming weeks...

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