Fred Hutchinson Cancer Research Center, WA Series 2017A-2017C Revenue Bonds Rated 'A'; Outlook Positive

CENTENNIAL (S&P Global Ratings) Feb. 22, 2017--S&P Global Ratings assigned its 'A' rating to Washington Health Care Facilities Authority's series 2017A-2017C revenue bonds, issued for Fred Hutchinson Cancer Research Center, and affirmed its 'A' rating on the authority's series 2009A, 2011A, and 2015A revenue bonds, issued for Fred Hutch. We also affirmed our 'A' issuer credit rating (ICR) on Fred Hutch. The outlook on all the ratings is positive. "The positive outlook reflects our opinion of Fred Hutch's significant strengthening of its balance sheet in fiscal 2016," said S&P Global Ratings credit analyst Sean Lacey, "due to its investment in Juno Therapeutics and the subsequent liquidation of a portion of that stock, which has significantly bolstered cash and investments during

...CENTENNIAL (S&P Global Ratings) Feb. 22, 2017--S&P Global Ratings assigned its 'A' rating to Washington Health Care Facilities Authority's series 2017A-2017C revenue bonds, issued for Fred Hutchinson Cancer Research Center, and affirmed its 'A' rating on the authority's series 2009A, 2011A, and 2015A revenue bonds, issued for Fred Hutch. We also affirmed our 'A' issuer credit rating (ICR) on Fred Hutch. The outlook on all the ratings is positive. "The positive outlook reflects our opinion of Fred Hutch's significant strengthening of its balance sheet in fiscal 2016," said S&P Global Ratings credit analyst Sean Lacey, "due to its investment in Juno Therapeutics and the subsequent liquidation of a portion of that stock, which has significantly bolstered cash and investments during the past two fiscal years." "If Fred Hutch were to strengthen financial resource metrics significantly and consistently with its recent performance, if strong operating margins were to remain persistent, and if...

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