Summary: Jewish Brd Of Family & Childrens Svcs, NY; Health Care, Human Service Providers Jan 03
- ID: 1952262
- January 2003
- Region: New York
- Standard & Poors
Standard & Poor's Ratings Services has assigned its 'BBB' rating to the New York State Dormitory Authority's $18 million revenue bonds, series 2003, issued for the Jewish Board of Family and Children's Services (JBFCS). Standard & Poor's has also affirmed its 'BBB' rating on the outstanding debt issued for JBFCS. The rating reflects: A solid liquidity position, A long operating history, A broad array of services, and Strong historic public support. Offsetting factors include JBFCS' marginal financial performance for the last two years, reliance on non-operating funds, heavy dependence on Medicaid funding, and competition from other providers. The bonds are secured by a security interest in JBFCS' total operating revenues. JBFCS is one of the nation's largest not-for-profit mental health...
Companies mentioned in this report are:
- Dorm Auth of the St of New York
Action: New Rating
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. SHOW LESS READ MORE >