S&P Global Ratings has revised the outlook to positive from stable and affirmed the "A" long-term rating on Seattle-based Fred Hutchinson Cancer Research Center's series 2009A and series 2011A bonds.
"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," said S&P analyst Jessica Matsumori.
"The center now has good financial resource ratios for the rating, which we believe may grow to levels more consistent with a higher rating during the next two years," she added.