New York State Dormitory Authority Miriam Osborn Home Assn.; Long Term Care Dec 11

  • ID: 2031467
  • December 2011
  • Region: New York
  • Standard & Poors
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Standard & Poor's Rating Services has revised it outlook to positive from stable and affirmed its 'BBB' long-term rating and underlying rating (SPUR) on New York State Dormitory Authority's revenue bonds, issued for Miriam Osborn Home Assn. (The Osborn). The positive outlook reflects our view of the resolution of the lawsuit involving the City of Rye, improved operations, a strong balance sheet as well as our expectation that operations will improve further. The Osborn has performed well over the past several years; however, the outstanding lawsuit with the Rye has limited The Osborn's ability to produce consistent operating margins due continuing legal costs. However, now that the lawsuit has been settled and The Osborn is no longer incurring legal fees,...

Companies mentioned in this report are:
- Dorm Auth of the St of New York

Action: Outlook Revised

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.

Research Type: Full Analysis

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- Dorm Auth of the St of New York

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