NY -- Standard&Poor's CreditWire 12/31/97 -- Standard&Poor's affirmed its single-'A' rating on New Jersey Health Care Finance Authority/Chilton Memorial Hospital's health care revenue bonds series 1993D. The rating reflects a favorable payor mix, which helps contribute toward good financial performance, improved balance sheet, excellent debt service coverage, and a relationship with Valley Health System. Operating and excess margins were excellent in 1995 and 1996 with 8.9% and 6.9% operating margins, respectively and 12% and 10.6% excess margins, respectively. However, margins dropped to -2% and 1.6% in 1996 due to one time expenses associated with an early retirement program, which was well received. Interim results for 1997 show a return to positive financial performance. Sept. 30, 1997
