Fitch rates Presbyterian Homes & Services, N.J., bonds A-

Fitch Ratings said it assigned an A- rating to New Jersey Economic Development Authority's $20,809,000 of revenue bonds (Presbyterian Homes & Services of New Jersey obligated group) series 1998A and an underlying A- rating to the authority's $42.44 million of revenue bonds (Presbyterian Homes & Services of New Jersey obligated group) series 1999B1 and 1998B2 (taxable).

The outlook is stable.

These ratings apply only the PHS Senior Living's 1998 obligated group and not to any other debt of the system, Fitch said.

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