Summary: New York State Dormitory Authority Catholic Health Services Of Long Island; System Feb 10

Standard & Poors, February 2010

Abstract
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
- New York State Dorm Auth

Action: Affirmed
Action: Outlook: Stable

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Catholic Hlth Svcs of Long Island
- New York State Dorm Auth

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