Fitch Ratings has assigned an "AA" rating to approximately $100 million of series 2015A revenue bonds and potentially to the approximately $167 million of series 2015B revenue bonds issued on behalf of Seattle Children's Hospital.
Fitch also affirmed the "AA" rating on the hospital's outstanding debt.
The rating assignment was supported by various factors, such as the hospital's excellent profitability, growing liquidity and manageable debt burden. The hospital's total revenue in fiscal 2014 was $1.2 billion.
The rating assignment was also supported by the hospital's strong market position and consistent philanthropic giving.
Fitch anticipates the hospital will have significant flexibility as it starts to manage population health and enter into more risk based payer arrangements thanks to its strong financial profile.
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