Washington Health Care Facilities Authority Fred Hutchinson Cancer Research Center; Non-Profit Organizations

S&P Global Ratings revised its outlook to stable from negative and affirmed its 'A+' long-term rating on Washington Health Care Facilities Authority's series 2020, 2011A, 2015, and 2017A, 2017B and 2017C revenue bonds, issued for Fred Hutchinson Cancer Research Center (Fred Hutch), in addition to its 'A+' issuer credit rating (ICR) on Fred Hutch. The stable outlook revision reflects our view of the healthy surplus projected for fiscal 2021, driven by organic improvement of Fred Hutch's traditional operations as well as its role as the coordinating center for vaccine clinical trials of the COVID-19 vaccine trials network (COVPN). It also reflects our view of the expected healthy increase in available resources in fiscal 2021, driven by a positive market return.

...S&P Global Ratings revised its outlook to stable from negative and affirmed its 'A+' long-term rating on Washington Health Care Facilities Authority's series 2020, 2011A, 2015, and 2017A, 2017B and 2017C revenue bonds, issued for Fred Hutchinson Cancer Research Center (Fred Hutch), in addition to its 'A+' issuer credit rating (ICR) on Fred Hutch. The stable outlook revision reflects our view of the healthy surplus projected for fiscal 2021, driven by organic improvement of Fred Hutch's traditional operations as well as its role as the coordinating center for vaccine clinical trials of the COVID-19 vaccine trials network (COVPN). It also reflects our view of the expected healthy increase in available resources in fiscal 2021, driven by a positive market return. Although management projects a small deficit and a modest decline in its cash position in fiscal 2022, based on the current version of its conservative budget, we believe the expected growth in available resources in fiscal 2021 would...

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