NY -- Standard&Poor's CreditWire 12/02/97 -- Standard&Poor's today affirmed its triple-`B'-plus rating on New Jersey Health Care Facilities Finance Authority, N.J.'s health care revenue bonds, issued for Beth Israel Hospital Association of Passaic. The outlook was revised to stable from negative. The rating reflects a strong balance sheet, increased revenues made possible by new services, improved utilization, and positive margins. The outlook was revised to stable as concerns about declining state subsidies causing poor financial performance in 1996 did not materialize, and Beth Israel's intent to find a merger partner should stabilize the long-term operations. The balance sheet strength is its liquidity with $28.1 million cash in 1996: 193% cash to debt and 204 days cash
