NEW YORK (Standard&Poor's CreditWire) April 6, 1999--Standard&Poor's today affirmed its triple-'B'-minus rating on New Jersey Health Care Facilities Finance Authority's $28.24 million revenue bonds series 1999, issued for Palisades Healthcare System Obligated Group. The rating reflects: -- Benefits from the system's Jan. 1, 1999 merger with New York Presbyterian Healthcare System (NY Presbyterian); -- Improved, but still weak financial position; and -- Strengthening local demographics that should improve utilization. Palisades is one of 16 corporate affiliates of New York Presbyterian Healthcare System. Benefits of this affiliation are tangible already; New York Presbyterian gave Palisades $1.75 million toward renovation of their high volume obstetrics unit. In addition, New York Presbyterian has assisted with recruitment of specialists, will
