Bowie State University, MD 2015 Bond Outlook Revised To Stable From Negative On Solid Occupancy, Improved Debt Service - S&P Global Ratings’ Credit Research

Bowie State University, MD 2015 Bond Outlook Revised To Stable From Negative On Solid Occupancy, Improved Debt Service

Bowie State University, MD 2015 Bond Outlook Revised To Stable From Negative On Solid Occupancy, Improved Debt Service - S&P Global Ratings’ Credit Research
Bowie State University, MD 2015 Bond Outlook Revised To Stable From Negative On Solid Occupancy, Improved Debt Service
Published Jun 29, 2022
2 pages (1278 words) — Published Jun 29, 2022
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Abstract:

CHICAGO (S&P Global Ratings) June 29, 2022--S&P Global Ratings revised its outlook to stable from negative and affirmed its 'BBB-' long-term rating on Maryland Economic Development Corp.'s (MEDCO) series 2015 student housing refunding revenue bonds, issued on behalf of Bowie State University (BSU)'s Christa McAuliffe Residential Community (CMRC) project. "The revised outlook is based on the project's solid occupancy, which improved to almost 100% in fall 2021, with expectations fall 2022 will be similar following a decline in fall 2020 due to the pandemic," said S&P Global Ratings credit analyst Sean Wiley. The project anticipates debt service coverage (DSC) of about 1.5x in fiscal 2022, following fiscal 2021 when DSC was at just 1.1x. In our view, privatized student housing projects

  
Report Type:

Ratings Action

Issuer
Maryland Econ Dev Corp
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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MLA:
S&P Global Ratings’ Credit Research. "Bowie State University, MD 2015 Bond Outlook Revised To Stable From Negative On Solid Occupancy, Improved Debt Service" Jun 29, 2022. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bowie-State-University-MD-2015-Bond-Outlook-Revised-To-Stable-From-Negative-On-Solid-Occupancy-Improved-Debt-Service-2860440>
  
APA:
S&P Global Ratings’ Credit Research. (). Bowie State University, MD 2015 Bond Outlook Revised To Stable From Negative On Solid Occupancy, Improved Debt Service Jun 29, 2022. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bowie-State-University-MD-2015-Bond-Outlook-Revised-To-Stable-From-Negative-On-Solid-Occupancy-Improved-Debt-Service-2860440>
  
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