NEW YORK (Standard&Poor's CreditWire) Jan. 26, 1999 -- Standard&Poor's assigned its single-'A'-minus rating to Rhode Island Health and Education Facilities Building Corp.'s revenue bonds series 1998 dated Feb. 14, 1999 due July 1, 2024, issued for Newport Hospital, R.I. The rating assigned to the bonds issued by Rhode Island Health&Education Facilities Building Corp., on behalf of Newport Hospital, R.I., reflects: -- Its dominant market position, -- A solid balance sheet and overwhelming liquidity after incorporating the guarantee of this issue by the Newport Hospital Foundation, and -- A recent affiliation with Lifespan Corp., which is expected to help Newport become more profitable in the future. A higher rating is precluded by Newport's declining operating
