North Shore-LIJ's $500M Bonds

Crain’s Health Pulse
May 4, 2015
North Shore-LIJ's $500M Bonds

The North Shore-Long Island Jewish Health System received an A3 rating from Moody's on $500 million in new debt that will be issued through the Dormitory Authority of the State of New York. The agency also confirmed an A3 rating on $1.5 billion of the hospital system's outstanding debt. Key challenges for NS-LIJ, said Moody's, include integrating several acquisitions—both recently completed and planned—as well as operating performance “that remains weaker than peer organizations and startup costs associated with the insurance strategy.” The bond proceeds will be used to save money by refinancing other fixed-rate debt, generating $70 million for various capital projects, and paying the costs of issuing the bonds.

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Dow Jones News Service
May 1, 2015
Moody’s Assigns A3 Rating to North Shore-LIJ Bonds

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