UCAR maintains A-plus credit rating

BOULDER – The University Corporation for Atmospheric Research based in Boulder has had its A-plus long-term rating and underlying rating affirmed this month by credit rating agency Standard & Poor’s for the eighth consecutive year.

UCAR, a nonprofit consortium of 73 universities with doctorate programs in the atmospheric sciences and related disciplines, manages the National Center for Atmospheric Research in Boulder under sponsorship by the National Science Foundation. It had an annual budget of $210 million in fiscal year 2008.

In its report, Standard & Poor’s cited UCAR’s long and mutually beneficial relationship with the NSF, its stable and growing membership base and manageable levels of annual debt servicing (3.9 percent of budget) as reasons for its consistently high credit rating.

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Dan Wilson, director of treasury operations at UCAR, said the organization works hard to maintain a high credit rating as it translates to a lower cost in debt servicing.

“Given the current tough economic conditions in the U.S. and world, we’re happy to maintain our A-plus credit score and our stable rating,” he said in a statement.

Kathryn Schmoll, UCAR vice president for finance and administration, said that while research funding has come under pressure in recent times, UCAR’s funding sources remain committed to the organization, which signals continued confidence in UCAR’s significance to the research community.

“Like many organizations in these difficult economic times, UCAR has tightened its budget and taken responsible steps to ensure continued sound financial management,” Schmoll  said. “Standard & Poor’s stable outlook for UCAR reflects this.”

UCAR also provides additional services through the UCAR Office of Programs. The wider organization has a staff of more than 1,400.