Fred Hutchinson Cancer Research Center, WA Bond Outlook Revised To Positive On Strengthening Balance Sheet

SAN FRANCISCO (S&P Global Ratings) July 18, 2016--S&P Global Ratings revised its outlook to positive from stable and affirmed its 'A' long-term rating on the Washington Health Care Facilities Authority's series 2009A and 2011A bonds, issued on behalf of the Fred Hutchinson Cancer Research Center (Fred Hutch). At the same time, S&P Global Ratings affirmed its 'A' issuer credit rating on the center. "The positive outlook reflects the significant strengthening of the center's balance sheet in fiscal 2015, driven by its investment in Juno Therapeutics and subsequent liquidation of a portion of that stock, which significantly bolstered its cash and investment levels," said S&P Global Ratings credit analyst Jessica Matsumori. "The center now has good financial resource ratios for the

...SAN FRANCISCO (S&P Global Ratings) July 18, 2016--S&P Global Ratings revised its outlook to positive from stable and affirmed its 'A' long-term rating on the Washington Health Care Facilities Authority's series 2009A and 2011A bonds, issued on behalf of the Fred Hutchinson Cancer Research Center (Fred Hutch). At the same time, S&P Global Ratings affirmed its 'A' issuer credit rating on the center. "The positive outlook reflects the significant strengthening of the center's balance sheet in fiscal 2015, driven by its investment in Juno Therapeutics and subsequent liquidation of a portion of that stock, which significantly bolstered its cash and investment levels," said S&P Global Ratings credit analyst Jessica Matsumori. "The center now has good financial resource ratios for the rating, which we believe may grow to levels more consistent with a higher rating during the next two years," Ms. Matsumori added. Founded in 1971 by Seattle surgeon Dr. William B. Hutchinson, Fred Hutch is located...

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