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Summary: Westchester County Industrial Development Agency, New York Lawrence Hospital; Hospital Jun 11
Standard & Poors, June 2011
Standard & Poor's Ratings Services affirmed its 'BBB+' rating, with a stable outlook, on Westchester County Industrial Development Agency, N.Y.'s series 1998 bonds, issued for Lawrence Hospital. The rating reflects our opinion of the hospital's: Solid operating performance despite volume issues in fiscal 2010, Strong debt service coverage, Adequate balance sheet, and Sound business position despite competition and outmigration to tertiary centers. Offsetting factors include a significant increase in debt load expected in the near term and the high average age of plant, although the hospital recently completed a number of capital projects. The hospital's pledge of gross receipts secures the bonds. Lawrence Hospital is a 291-licensed-bed acute-care facility in Bronxville, an affluent suburb of New York City. Its primary...
Companies mentioned in this report are: Lawrence Hosp,Westchester Cnty Indl Dev Agy
Action: Outlook: Stable
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Lawrence Hosp,Westchester Cnty Indl Dev Agy