DALLAS (Standard&Poor's) Oct. 11, 2012-- Standard&Poor's Ratings Services assigned its 'BBB-' long-term rating to Maryland Economic Development Corp.'s (MEDCO) series 2012 student housing refunding revenue bonds (Morgan State University Project). The outlook is stable. "The rating reflects our view of the nonrecourse security pledge of net revenues of the 794-bed apartment style housing project -- Morgan View Apartments -- that were originally funded by the series 2002A bonds," said Standard&Poor's credit analyst Bianca Gaytan-Burrell. "Further supporting the rating is our view of the bond's adequate security features and strong demand," Ms. Gaytan-Burrell added. Morgan View Apartments consists of 219 units with 794 student housing beds contained in five residential buildings. It is located on
