Summary: New York State Dormitory Authority North Shore Long Island Jewish Health System; Joint Criteria; System Nov 10

Standard & Poors, November 2010

Abstract
Standard & Poor's Ratings Services affirmed its 'A-' long-term rating and 'A-' underlying rating (SPUR) on New York State Dormitory Authority's series 2009A, 2009B, 2009C, 2009D, and 2009E health care revenue bonds, issued on behalf of North Shore Long Island Jewish Health System (NSLIJ). Series 2009A and 2009E are fixed-rate bonds, while series 2009B, 2009C, and 2009D are variable-rate bonds backed jointly by letters of credit (LOCs) from various banks and NSLIJ's underlying credit quality. Standard & Poor's also affirmed its 'AAA/A-1+' ratings on the series 2009B and 2009C bonds and its 'AAA/A-1' rating on the series 2009D bonds. The long-term component of the ratings reflects the application of joint criteria assuming low correlation, whereby the North Shore Long Island...

Companies mentioned in this report are:
- North Shore Long Island Jewish Hlth Sys
- 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.

- North Shore Long Island Jewish Hlth Sys
- New York State Dorm Auth

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