Fitch upgrades rating on Children's Specialized Hospital's bonds

Fitch Ratings has upgraded the rating on approximately $29.4 million of New Brunswick, N.J.-based Children's Specialized Hospital's series 2005A bonds to "BBB+" from "BBB."

The rating upgrade was supported by a number of factors, including the hospital's profitability and balance sheet metrics, which both exceed Fitch's "BBB" category medians.

The hospital does face some challenges, which were also considered for the rating upgrade, such as being reliant on Children's Specialized Hospital Foundation's support and its ability to raise philanthropic support, according to Fitch.

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