DALLAS -- Moody's Investors Service has affirmed National Conference of State Legislatures' A3 credit rating on about $7.5 million of revenue bonds issued through the Colorado Educational & Cultural Facilities Authority.
Based in Denver, NCSL is a non-profit organization serving all state, territory and commonwealth legislatures.
"The A3 rating reflects NSCL's position as a key provider of advocacy, services and research to the nation's legislatures, territories and commonwealth, with diversity in revenues derived from the states and federal government," analyst Faiza Mawjee noted. "NCSL has demonstrated an ability to sustain fiscal balance during periods of reduced funding, partially offsetting concerns around uncommonly thin financial resources."
The NCSL issued $13.9 million of revenue bonds in 2001 to build its headquarters building in Denver and create a debt service reserve fund. The organization refunded $9.2 million of the debt in 2010.