S&P Global Ratings revised the outlook to positive from stable and affirmed its 'A' long-term rating on the Washington Health Care Facilities Authority's series 2009A and 2011A bonds, issued on behalf of the Fred Hutchinson Cancer Research Center (Fred Hutch), and its 'A' issuer credit rating on the center. The positive outlook reflects the significant strengthening of the center's balance sheet in fiscal 2015, driven by its investment in Juno Therapeutics and subsequent liquidation of a portion of that stock, which significantly bolstered its cash and investment levels. The center now has good financial resource ratios for the rating, and we believe these may continue to grow over the next two years to levels more consistent with a higher rating.
