S&P Global Ratings assigned its 'AA' rating to Children?s Hospital of Boston's (Children's) $300 million taxable fixed rate bonds. At the same time, we affirmed our 'AA' long-term rating on Massachusetts Development Finance Agency's series 2014P-1 tax-exempt bonds, issued for Children's, and Children's series 2017A taxable bonds. The outlook is stable. The bond proceeds will immediately be applied to Children's unrestricted reserves, which helps offset this additional debt and growing leverage. The rating reflects our view of Children's robust unrestricted reserves and fund raising capabilities that have contributed to its healthy balance sheet. In addition, the rating reflects Children's clinical strengths and national reputation, strong market position, and less reliance on Medicaid compared with other pediatric hospitals. We think these
