Standard & Poor’s Reaffirms Highest Credit Rating for Ceridian Client Funds Trust
Minneapolis (January 26, 2009) – Ceridian Corporation, a leading provider of managed human resource and payroll outsourcing solutions, announced today that the Ceridian client funds trust for its payroll, tax filing and other customers in its U.S. Human Resource Solutions business continues to be assigned a AAAf fund credit rating by Standard & Poor’s Corporation (S&P). The S&P’s highest rating was first noted on May 7, 2007 and has continued to be reaffirmed since that time.
“I am extremely pleased that Standard & Poor’s continues to assign its highest fund credit rating to our client funds trust,” said Gregory Macfarlane, Ceridian’s executive vice president and chief financial officer. “We hold our clients’ funds in a trust which keeps them separate from our corporate accounts – and that means they cannot be touched by any outside claims. S&P’s highest rating provides further clear assurance that these trust investments are managed according to the highest standards of safety and soundness. We remain committed to maintaining these high standards for the benefit of our clients going forward.”
Source: Ceridian
