The rating on Ward County, N.D.'s health care facilities revenue bonds, issued on behalf of Trinity Medical Center, reflects an aggressive strategy to expand its market and employ physicians, which is beginning to show success in 1996. Offsetting factors are the competitive risk in a two-hospital market and weakened profitability and liquidity in 1995 as Trinity pursued strategic initiatives. Trinity began recruiting and employing doctors in 1993 and became affiliated with DakotaCare Physicians Association to stabilize its admissions base in Minot. DakotaCare has 100 members, 46 of which are Trinity employees. Trinity also is reaching out to the greater 10-county area for admissions that would have otherwise sought care in Bismarck or Grand Forks by placing clinics or establishing formal
