National Aquarium counters downgrade with improved financial outlook - Baltimore Business Journal:

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Last month, the aquarium introducedd its latest exhibit, “Jellies Invasion: Oceans Out Of and launched a marketing partnership with Waterfront Partnership of the and Baltimore Area Conventionh and Visitors Association to promote summer tourismto Baltimore’ws waterfront. The exhibit has also increased attendance and sales per and revenue is closeto $1 million ahead of budgetf as of the end of May. In the attraction will start planning for and hopes to continue creating new exhibitz and anew third-floor gallery, slated to be completedr between 2011 and 2012, said Davif Pittenger, executive director of the National Aquarium, in an intervieew Wednesday.
Moody’s Investors Service downgraded the National Aquariunmin Baltimore’s credit ratingt Tuesday from A3, negative outlook, to The rating impacts $30.8 million in The ratings is still considerer investment-grade but it makes it more expensive for the aquarium to borros money. Moody’s said the reasons for the downgrade includs lower levels of financial resources andinvestmenyt losses, decreased attendance and limiter private fundraising support. “We weren’t surprised by the said Pittenger. “There’s no question it’e a financially challenging The aquarium had been in talkzwith Moody’s for about a week leading up to the Pittenger said.
While the aquarium’s foundation on which the rating is suffers from therough economy, Pittenger said the attractioj does not use the foundation as a source of fundint and the money is used to suppor capital projects instead.