Summary: Memorial Sloan-kettering Cancer Ctr, NY; Health Care, Hospital Dec 01
- ID: 1953567
- December 2001
- Region: New York
- Standard & Poors
The rating on the New York State Dormitory Authority's bonds, issued for Memorial Sloan-Kettering Cancer Center, reflects: Very strong institutional characteristics, highlighted by demonstrated clinical quality, a sizable research base, and a strong market position in the sizable New York metropolitan area; An excellent balance sheet, including light pro forma leverage of 23% and pro forma unrestricted liquidity of $1.66 billion, equal to 612 days' cash and 276% of pro forma debt; Historically strong bottom lines and cash flow, as demonstrated by a 17.5% bottom line in 2000, which are highly dependant on non-operating income, and in fact recent weak investment performance and philanthropic revenues have significantly diminished results during fiscal 2001 to essentially break even; Good revenue diversity, with...
Companies mentioned in this report are:
- Memorial Sloan Kettering Cancer Ctr
- Dorm Auth of the St of New York
Action: New Rating
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