S&P Global Ratings affirmed its 'AA' long-term rating and underlying rating (SPUR) on the Massachusetts Development Finance Agency 's bonds issued for Children's Hospital of Boston (Children's) and Children's taxable debt. At the same time, we affirmed our 'AA+/A-1' dual rating on the agency's variable-rate demand bonds issued for Children's based on the application of our joint criteria with low correlation. The outlook is stable. A general obligation from the obligated group--of which Children's is the only member--as well as a guarantee from its parent, Children's Medical Center, secure the bonds. Nonobligated entities include employed Harvard Medical School and Children's physicians and various support companies, primarily holding real estate. The 'AA+' long-term rating on the variable-rate bonds reflects the credit
