NY -- Standard&Poor's CreditWire 4/27/98 – Standard&Poor's today assigned its triple-'B' rating to New Jersey Health Care Facilities Financing Authority's $29 million revenue and refunding bonds series 1998 dated May 15, 1998 due July 1, 2014, issued for Rahway Hospital, N.J. In addition, Standard&Poor's affirmed its triple-'B' rating on the authority's $28.6 million series 1988 bonds, also issued for the hospital. The outlook is negative. The rating reflects erratic profitability and a competitive service area, offset by an adequate balance sheet, recent cost containment and revenue enhancement initiatives, and potential benefits from a recently announced merger. The negative outlook largely reflects Rahway's unaudited 1997 loss of $1.7 million, due to fewer inpatient admissions than
