NEW YORK (Standard&Poor's CreditWire) June 19, 2000--Standard&Poor's today revised its outlook on Rhode Island Health and Educational Facilities Building Corp.'s $20 million revenue bonds series 1999, issued for St. Joseph Health Services, to negative from stable. The triple-'B'-minus rating was affirmed. The outlook revision reflects: -- A decreased cash position that affords the hospital little room for missteps or unforeseen events, -- Recent declines in net patient revenues due to utilization trends and larger-than-expected shifts to managed care products, -- Weaker-than-expected debt service coverage, and -- Considerable managed-care penetration. Positive factors precluding a lower rating at this time include: -- Stable market share in a highly competitive market place; -- Break-even operating results, despite recent declines
