Standard&Poor's Ratings Services affirmed its 'A' long-term rating, underlying rating (SPUR), and issuer credit rating (ICR) on the Fred Hutchinson Cancer Research Center's (FHCRC) debt outstanding. Furthermore, Standard&Poor's affirmed the 'AAA/A-1+' rating on the series 2009B bonds and the 'AAA/A-1' rating on the series 2001A bonds. The outlook on all bond ratings is stable. The 'A' rating reflects our view of FHCRC's: Strength as one of the few comprehensive cancer centers in the nation, with a history of strong grant support and solid success rate with the National Institutes of Health (NIH) and National Cancer Institute (NCI); Independence and flexibility as a freestanding research center without the risks of a clinical care component; Flexible expense structure,
