Massachusetts Development Finance Agency Children's Hospital of Boston; Hospital; Joint Criteria

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. Based on the application of joint criteria, we also affirmed our 'AAA/A-1+' ratings on the series 2010N-3 and 2010 N-4 bonds also issued for Children's. The long-term component of the rating is based jointly on our

...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. Based on the application of joint criteria, we also affirmed our '###/A-1+' ratings on the series 2010N-3 and 2010 N-4 bonds also issued for Children's. The long-term component of the rating is based jointly on our rating of Children's and the letter of credit (LOC) providers U.S. Bank and Wells Fargo. The short-term components of the ratings are based solely on the ratings of the LOC providers. We assessed Children's enterprise profile as very strong characterized by its...

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