Standard & Poor's Ratings Services assigned its 'A-' long-term rating on Nassau County Local Economic Assistance & Financing Corp., N.Y.'s $72.105 million series 2011 bonds and Suffolk County Economic Development Authority's $230.465 million series 2011 bonds, issued for Catholic Health Services of Long Island (CHSLI). Standard & Poor's also affirmed its 'A-' long-term rating and underlying rating (SPUR) on various series of debt issued for CHSLI. The rating outlook on all the series of debt is stable. In May 2011, Standard & Poor's raised the rating on CHSLI's debt to 'A-' from 'BBB+' due to sustained improvement in operating performance, with solid revenue growth and increasing levels of profitability over the past five years, including a very solid fiscal 2010...
Companies mentioned in this report are:
- Catholic Hlth Svcs of Long Island
- Nassau Cnty Local Econ Assistance & Financing Corp
- Suffolk County Economic Development Authority
Action: New Rating
Action: Outlook: Stable
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