The rating on New Jersey Health Care Facilities Finance Authority's bonds, issued for Palisades Healthcare System Obligated Group, reflects: * Benefits from the system's Jan. 1, 1999 merger with New York Presbyterian Healthcare System (NY Presbyterian); * Improved, but still weak financial position; and * Strengthening local demographics that should improve utilization. Palisades is one of 16 corporate affiliates of New York Presbyterian Healthcare System. Benefits of this affiliation are tangible already; NY Presbyterian gave Palisades $1.75 million toward renovation of their high volume obstetrics unit. In addition, NY Presbyterian has assisted with recruitment of specialists, will joint venture with Palisades for a satellite clinic in a growing part of the service area, and has an array of support services
