NEW YORK – (Standard&Poor's CreditWire) May 8, 2000—Standard&Poor's today revised its outlook on North Carolina Medical Care Commission/New Hanover Regional Medical Center to negative from stable due to: -- A failure to meet financial projections following the purchase of Cape Fear Hospital in November 1998, -- Declining liquidity, and -- Increased reimbursement pressure. Standard&Poor's also affirmed its single-'A'-plus underlying rating (SPUR) on North Carolina Medical Care Commission's $122.40 million health care revenue bonds series 1999, issued for New Hanover Regional Medical Center. The underlying rating continues to reflect: -- New Hanover's role as the dominant health system in Wilmington, N.C. and southeastern North Carolina, further enhanced by the successful integration of the majority of
