Children's Hospital Of Boston, MA's 2017A Taxable Bonds Rated 'AA'

NEW YORK (S&P Global Ratings) Jan. 13, 2017--S&P Global Ratings assigned its 'AA' rating to Children?s Hospital Of Boston's (Children's) $350 million series 2017A taxable bonds. At the same time, we affirmed our 'AA' long-term rating on Massachusetts Development Finance Agency's series P-1 and M bonds and the underlying 'AA' rating on the series N bonds all issued for Children's. The outlook is stable. Proceeds from the 2017A bonds will be used for general corporate purposes including the possible future refinancing of about $64 million of debt in 2018 and 2019. "We assessed Children's enterprise profile as very strong characterized by its sound market position as the only dedicated pediatric hospital in the eastern Massachusetts region, broad patient draw both

...NEW YORK (S&P Global Ratings) Jan. 13, 2017--S&P Global Ratings assigned its '##' rating to Children's Hospital Of Boston's (Children's) $350 million series 2017A taxable bonds. At the same time, we affirmed our '##' long-term rating on Massachusetts Development Finance Agency's series P-1 and M bonds and the underlying '##' rating on the series N bonds all issued for Children's. The outlook is stable. Proceeds from the 2017A bonds will be used for general corporate purposes including the possible future refinancing of about $64 million of debt in 2018 and 2019. "We assessed Children's enterprise profile as very strong characterized by its sound market position as the only dedicated pediatric hospital in the eastern Massachusetts region, broad patient draw both nationally and internationally on the strength of its reputation, research, and specialized medical staff, and moderate Medicaid load compared with some other pediatric hospitals, said S&P Global Ratings analyst Cynthia Keller. "We...

Ratings Action