Standard&Poor's Ratings Services affirmed its 'AA+' long-term rating on New York State Dormitory Authority's GNMA collateralized mortgage revenue bonds series 2006, issued for the St. Cabrini Nursing Home (Cabrini of Westchester Project). The outlook is negative. The rating reflects our view of the following strengths: Successful deliverance of the Ginnie Mae permanent loan certificate (PLC), with final endorsement on Jan. 27, 2011; Sufficiency of revenues to make full and timely debt service payments on the bonds plus fees until maturity; The extremely high credit quality of the Ginnie Mae security, considered to be 'AA+' eligible; An asset-to-liability parity ratio of 100.93% as of Feb. 21, 2012; and Investments held in Treasury strips (AAAm). The rating alsp reflects the
