The 407-bed hospital, which also serves Alaska, Idaho and Montana, the largest geographical region of any children’s hospital in the country, also had its overall rating affirmed at “AA” with a stable outlook.
One key aspect of the maintenance of strong cash flow was the elimination of material construction risk after Seattle Children’s completed two major capital projects in fiscal 2022, Fitch said. These are a 310,000-square-foot eight-story building to expand both inpatient and outpatient services and the completion of Odessa Brown Children’s Clinic in Othello, Wash.
The hospital system generated approximately $2.1 billion in total revenues as of fiscal 2022, ending Sept. 30, Fitch said.
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