Northwell Health Inc., New York Dormitory Authority of the State of New York; System Primary Credit Analyst: Stephen Infranco, New York + 1 (212) 438 2025;
[email protected] Secondary Contact: Anne E Cosgrove, New York + 1 (212) 438 8202;
[email protected] Table Of Contents Rating Action Stable Outlook Credit Opinion Enterprise Profile: Very Strong Financial Profile: Adequate Related Research Credit Snapshot WWW.STANDARDANDPOORS.COM/RATINGSDIRECT NOVEMBER 25, 2020 1 Northwell Health Inc., New York Dormitory Authority of the State of New York; System Credit Profile Northwell Hlth, Inc. Long Term Rating A-/Stable Current Dorm Auth of the St of New York, New York Northwell Hlth, Inc., New York New York State Dormitory Authority (Northwell Hlth, Inc.) Long Term Rating A-/Stable Current Rating Action S&P Global Ratings' long-term rating on various series of health care revenue bonds issued for Northwell Health Inc., N.Y. is 'A-'. The outlook is stable. Credit overview The rating on Northwell reflects its favorable enterprise profile, highlighted by an expansive footprint with broad geographic coverage in New York State, including 19 controlled hospitals (six tertiary) and a comprehensive and full continuum of care through its ambulatory, post-acute, and large physician network. Northwell is also anchored by its leading and growing market position in a sizable and diverse service area spanning six counties, with a population base of approximately 8.2 million. It maintains a good financial profile, despite an expected weak fiscal 2020, with a sizable operating deficit at the six-month interim period ended June 30, primarily reflecting the disruption and challenges of operating during the COVID-19 pandemic.