S&P Global Ratings' long-term rating on bonds issued by the Massachusetts Development Finance Agency for Children?s Hospital of Boston (Children's) and Children's taxable bonds is 'AA'. The outlook is stable. The rating reflects our view of Children's healthy balance sheet including robust unrestricted reserves, light debt levels, and fund-raising capabilities that all help offset weaker operating performance during the pandemic. The rating is also supported by Children's clinical strengths and national reputation, strong market position, and less reliance on Medicaid compared with other pediatric hospitals. Children's has completed and opened its clinical and research building, Brookline Place, and has less than $60 million of capital spending left on its new inpatient tower, the Hale Family Building, that is scheduled to
