NY -- Standard&Poor's CreditWire 7/17/98 -- Standard&Poor's today assigned its single-'A'-plus rating to Connecticut Health&Education Facility Authority's revenue bonds series E issued for William W. Backus Hospital, Conn. The rating reflects: -- Strong financial profile characterized by growing income; -- Excellent liquidity and light leverage; -- Dominant market share in its primary service area combined with modest competition in its secondary service area; and -- Growing economy. The rating also factors in the withdrawal of the foundation from the obligated group leaving the hospital as the sole security for the debt. This was anticipated to occur with the refunding of the series C bonds, which is the purpose of this issue. Until the series
