NEW YORK (Standard&Poor's CreditWire) Jan. 26, 1999 -- Standard&Poor's today assigned its triple-'B'-minus rating to New Jersey Health Care Facilities Finance Authority's $43.41 million revenue bonds series 1999 dated Feb. 15, 1999 due July 1, 2029, issued for Palisades Healthcare System Obligated Group. The bonds are scheduled to sell February 23, 1999. 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; NY Presbyterian gave Palisades $1.75 million toward renovation
