Standard & Poor's Ratings Services affirmed its 'BBB+' long-term and underlying ratings (SPUR) on New York State Dormitory Authority's bonds, issued for Catholic Health Services of Long Island (CHSLI). The outlook is stable. The rating reflects sustained improvement in operating performance during the past three fiscal years and continuing through the eleven-month fiscal 2009 interim period ended Nov. 30, 2009, as management responded to near-term operating pressure with cost-containment initiatives and budgetary restraint. In addition, the organization has become more streamlined as senior leadership has implemented organizational and managerial changes that allow CHSLI to operate more like a system than a group of individual hospitals, allowing for greater efficiencies and economies of scale. The 'BBB+' rating further reflects CHSLI's: Solid...
Companies mentioned in this report are:
- Catholic Hlth Svcs of Long Island
- Dorm Auth of the St of New York
Action: Outlook: Stable
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