New York State Dormitory Authority Miriam Osborn Home Assn.; Long Term Care Dec 11
- ID: 2031467
- December 2011
- Region: New York
- Standard & Poors
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:
- New York State Dorm Auth
Action: Outlook Revised
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