Summary: New York State Dormitory Authority Jewish Board of Family and Children's Services; Human Service Providers Sep 06
- ID: 1953794
- September 2006
- Region: New York
- Standard & Poors
Standard & Poor's Ratings Services affirmed its 'BBB' underlying rating (SPUR) on New York State Dormitory Authority's revenue bonds, issued for Jewish Board of Family and Children's Services (JBFCS). The 'BBB' rating reflects JBFCS': Solid liquidity position, with unrestricted cash and investments equal to 151 days' cash and 169% of debt; Long operating history more than a century long, with deep ties to the community; Broad array of services, with more than 185 programs at more than 90 locations in New York City and the surrounding N.Y. suburbs; and Strong historic public support, with about three-fourths of revenue derived from governmental sources, including New York State and New York City. Offsetting factors include thin bottom lines; heavy reliance on sometimes...
Companies mentioned in this report are:
- Dorm Auth of the St of New York
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. SHOW LESS READ MORE >