NEW YORK (Standard&Poor's CreditWire) Oct. 19, 1999--Standard&Poor's today affirmed its single-'A' underlying rating (SPUR) on New Jersey Health Care Facilities Finance Authority's $53.21 million hospital revenue bonds, issued on behalf of JFK Health System. The outlook is stable. The rating reflects: -- Revenue diversity, -- Anticipated benefits from merger with a competitor, and -- Good finances. The rating also reflects reduced profitability and expectations of financial support outside the system. JFK's business lines include acute care, rehabilitation, and long-term care. Not only does this insulate JFK from sector-specific reimbursement pressures, but it also demonstrates the system's well-developed, integrated delivery system. The bonds are secured by a gross revenue pledge of the obligated group. JFK Health System
