Washington, D.C. The credit-rating agency Standard & Poor’s (S&P) has reaffirmed the Carnegie Institution for Science’s AA+ long-term rating and stable outlook. It is the second highest rating given by the organization.

S&P’s credit rating provides an independent evaluation of Carnegie’s overall financial capacity. The AA+/Stable rating and outlook is for Carnegie’s California Educational Facilities Authority’s series 2010 revenue bonds and Maryland Health & Higher Educational Facilities Authority’s series 2010 revenue bonds. By reaffirming the AA+ rating, the S&P has determined that Carnegie’s capacity to meet its financial commitments remains very strong even in an uncertain financial climate. S&P has indicated that the current rating is based on “Carnegie’s large endowment, which grew to $736 million as of December 31, 2010, from $691 million on June 30, 2010; its considerable financial resources relative to expenses and debt; manageable 3.5 % interest-only maximum debt service relative to fiscal 2010 expenses; history of surpluses on a cash basis; and budgetary flexibility.”

“We are particularly pleased to receive this rating in these trying times,” commented Richard A. Meserve, Carnegie president. “It is a testament to the sound guidance by the board of trustees and to the institution’s management practices.”

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