...The 'A+' revenue bonds rating affirmation reflects Seattle Cancer Center Alliance's (SCCA) position as a highly ranked provider of cancer services, its strong historical profitability and solid leverage metrics. SCCA is the only National Cancer Institute (NCI) designated comprehensive cancer center in Washington State and, as such, primarily serves patients in the northwest region of the country. The organization is pursuing strategic growth by expanding its geographic footprint and enlarging its clinical space by up to 250,000 square feet as part of a large facility expansion. While the plans for the facility expansion have not been finalized, the organization estimates a preliminary capital cost of at least $250 million ($200 million of which would be debt-funded), which Fitch Ratings has included in the Scenario Analysis, page 8, for the financial profile assessment. Even with the sizable incremental debt, the rating case reflects 'a' level leverage metrics in the rating case, thereby...
