NY -- Standard&Poor's CreditWire 7/8/97 -- Standard&Poor's today has affirmed its triple-'B'-minus rating on New Jersey Health Care Facilities Financing Authority, N.J.'s bonds series C, issued for Kimball Medical Center, N.J. At the same time, Standard&Poor's has revised its outlook on the authority's bonds to positive from stable. The rating is affirmed based on continued improvement in both financial performance and the balance sheet, as expected. Benefits from membership in the Saint Barnabas Health Care System contributed to this improvement. Notable concerns including dependence on New Jersey charity care funding for profitability, high leverage, and significant competition preclude an upgrade at this time. Excess margin improved to 4.6% in 1996 from 3.3% in 1995.
