NEW RATING CREDIT PROFILE $68.59 mil rev bnds ser 1997B dtd Dec 1, 1997 due July 1, 2022 BBB Sale date: Nov 19, 1997 Investment banker: Advest Inc. OUTLOOK: STABLE The rating on Connecticut Health and Educational Facilities Authority's bonds, issued for the Hospital for Special Care (HSC), reflects unique chronic disease and intensive rehabilitation service offerings, excellent demand, and an improving financial profile. Credit risks include heavy dependence on Medicaid for 74% of revenues, high debt levels, and challenges integrating a newly acquired nursing home. Bond proceeds will advance refund series 1991A bonds, formerly rated 'BBB-', of $45 million; construct an aquatic fitness center for $6.5 million; and purchase a nearby 284-bed nursing facility for $10.8 million. The 200-bed
