NEW YORK (Standard&Poor's CreditWire) Oct. 11, 1999—Standard&Poor's today affirmed its single-'A'-minus rating on Rhode Island Health&Educational Facilities Building Corp.'s $14.84 million hospital revenue bonds series 1997, issued for South County Hospital (SCH). The rating reflects: ý-- A dominant market and competitive position due to low costs, ý-- Solid outpatient care business, and ý-- A strong balance sheet backed by the guarantee of the hospital's foundation. These strengths are offset by the hospital's small size of only 100 beds and an increasingly restrictive payor mix. The bonds are secured by a gross revenue pledge of the hospital and a guarantee from the hospital's foundation. SCH is a 100-bed acute-care facility located in the Wakefield area
