Ceridian Client Funds Trust Assigned Standard & Poor’s Highest Fund Credit Rating
Trust Assigned AAAf Fund Credit Rating by Standard & Poor’s
MINNEAPOLIS (May 07, 2007) – Ceridian Corporation (NYSE: CEN) today announced that the Ceridian client funds trust for its payroll, tax filing and other customers in its U.S. Human Resource Solutions business has been assigned a AAAf fund credit rating by Standard & Poor’s Corporation (S&P).
“I am extremely pleased to announce that Standard & Poor’s has assigned its highest fund credit rating to our client funds trust,” said Kathryn V. Marinello, president and chief executive officer of Ceridian Corporation.
“Our clients trust us to handle their funds, and we take that responsibility seriously,” Marinello continued. “We use a trust to hold client funds, which serves to keep our clients’ funds completely separate from our corporate funds and to protect those funds from claims by outsiders. The assignment of S&P’s highest fund credit rating to these trust investments provides further assurance to our clients that their funds are invested according to the highest standards of safety and soundness. We are committed to maintaining these high standards for the benefit of our clients going forward.”
Ceridian Corporation (www.ceridian.com) is an information services company serving businesses and employees in the United States, Canada and Europe. Ceridian is one of the top human resources outsourcing companies in each of its markets, and offers a broad range of human resource services, including payroll, benefits administration, tax compliance, HR information systems and Employee Assistance Program (EAP) and work-life solutions. Through its Comdata subsidiary, Ceridian is a major payment processor and issuer of credit cards, debit cards and stored value cards, primarily for the trucking and retail industries in the United States.
Source: Ceridian
