...The affirmation at 'AA' and Stable Rating Outlook reflects Seattle Children's Hospital's (SCH) strong market position in pediatric services, and Fitch's expectation that SCH will continue to drive solid operating EBITDA and EBITDA margins given the exclusivity of quaternary services it provides to a wide geographic region. Furthermore, Fitch expects SCH will continue to benefit from the relationship with University of Washington's School of Medicine (UWSOM) supporting meaningful expansion in research and physician recruitment. The rating also reflects SCH's stable financial profile through the cycle as evidenced by Fitch's FAST scenarios, even during a period of high capital spending....
