The affirmed rating on New Jersey Health Care Facilities Finance Authority's bonds, issued for Atlantic City Medical Center (ACMC), reflects: Solid market position, Good financial performance, and Adequate liquidity position. A moderately high leverage position and relatively low debt service coverage remain as offsetting credit concerns. The bonds are secured by a gross revenue pledge and underlying assets of the medical center. ACMC operates 521 staffed-beds at two facilities located in Atlantic City and Pomona. The combined medical center retains 50% market share in the primary service area. During 1997, ACMC experienced a small 1.9% decrease in admissions (19,981) and a 0.7% decrease in outpatient visits (76,865). However, nine month interims for 1998 show a 4.9% (17,751) comparative increase in
