TEXT-Fitch continues to monitor NYU Hospitals Center post Sandy
Nov 27 - Fitch Ratings continues to monitor NYU Hospitals Center (NYUHC) in the wake of material disruption to its operations post major storm Sandy. Fitch is in regular contact with NYUHC management and will continue to monitor the situation, taking rating action as appropriate. NYU Hospitals Center (NYUHC) (rated 'A-' with a Stable Outlook) sustained serious damage to its main campus resulting from the flood and storm surge related to the major storm Sandy. Damage from the storm forced the closure of the Langone Medical Center inpatient tower and temporary closure of outpatient services. Outpatient services, including the cancer center and NUYHC's ambulatory capacity, have largely been restored, and inpatient capacity is expected to return to 90% of pre-storm capacity in early January 2013. Although there has been a material disruption to operations, Fitch does not expect this to affect NYUHC's ability to pay timely debt service. Insurance and other available emergency funds are expected to substantially offset revenue and property losses, and NYUHC's liquidity position remains stable at pre-storm levels. Additional information is available at 'www.fitchratings.com'.
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