NEW YORK - Moody's Investors Service has upgraded Seattle Cancer Care Alliance, Wash.'s (SCCA) long-term revenue bond rating to A2 from A3. The rating applies to the Series 2008 bonds issued by the Washington Health Care Facilities Authority. The outlook is stable.
The upgrade of the rating to A2 from A3 and the affirmation of the stable outlook is driven by SCCA's strong revenue growth over the last several years, its strong balance sheet, its good market position and strong brand, and its maintenance of strong operating margins despite economic weakness in the region.
Debt measures are good for the rating category, and the organization has no plans for additional debt at this time.