NY -- Standard&Poor's CreditWire 10/10/97 -- Standard&Poor's today affirmed its single-'A'-plus rating on North Carolina Medical Care Community's $60.5 million revenue health care bonds series 1993, issued for Rex Hospital, N.C. The rating reflects strong profitability, despite a disappointing 1996 performance in an economically and competitively favorable market. Rex Hospital's lower levels of liquidity remain a concern. Net income in 1996 totaled $4 million, which is substantially reduced from prior years' levels of $7 million-$10 million. The $7 million loss from operations was due to an unfavorable managed care contract and write downs of physician practice assets. Profitability in 1997 has rebounded over the last seven months with net income of $7.6 million due to renegotiation
