The rating on New Jersey Health Care Facilities Financing Authority, N.J.'s bonds, issued for the St. Joseph's Hospital and Medical Center, reflects: * The strong credit quality of the mortgage note on the underlying St. Joseph's Hospital&Medical Center issue, which is insured by FHA under Section 242, under Section 223(e) of the National Housing Act; * The 116.97% asset-to-liability position of the bonds; * Full and timely payment of debt service on the bonds and the underlying mortgage note; and * A debt service reserve fully funded to cover debt service during the assignment process in the event of a mortgage note default. Assets total $70.362 million as of the June 7, 1996 report date, including a $55.544
