NY -- Standard&Poor's CreditWire 3/11/98 -- Standard&Poor's today assigned its single-'A'-plus rating to North Carolina Medical Care Community's $123.63 million revenue bonds series 1998 issued for Rex Hospital, N.C. In addition, Standard&Poor's affirmed its single-'A'-plus rating to the medical care community's outstanding bonds series 1993. The outlook is stable. The assigned rating to Rex Hospital reflects strong profitability, despite a disappointing 1996, in an economically and competitively favorable market. Rex Hospital's liquidity, especially in light of this additional debt, remains a concern. Rex lost $7 million from operations for their 15 month 1996 audit - primarily due to an unfavorable exclusive contract with the area's largest HMO, Health Source. The contract has been renegotiated
