Johns Hopkins Health System Obligated Group 2015A, B Bonds Rated 'AA-'

NEW YORK (Standard&Poor's) April 10, 2015--Standard&Poor's Ratings Services assigned its 'AA-' rating to Maryland Health&Higher Educational Facilities Authority's series 2015A and 2015B bonds issued for Johns Hopkins Health System Obligated Group (JHHS) and series 2015A bonds issued for JHMI Utilities LLC, which is guaranteed by JHHS. At the same time we affirmed our 'AA-' long-term ratings on bonds issued for JHHS, JHMI, and Sibley Memorial Hospital. The outlook on all ratings is stable. "The rating reflects our view of JHHS' strong business position, diverse revenue base, and adequate balance sheet compared with similarly rated credits," said Standard&Poor's credit analyst Jessica Goldman. "While JHHS has operated under the global budget revenue agreement with

...NEW YORK (Standard & Poor's) April 10, 2015--Standard & Poor's Ratings Services assigned its '##-' rating to Maryland Health & Higher Educational Facilities Authority's series 2015A and 2015B bonds issued for Johns Hopkins Health System Obligated Group (JHHS) and series 2015A bonds issued for JHMI Utilities LLC, which is guaranteed by JHHS. At the same time we affirmed our '##-' long-term ratings on bonds issued for JHHS, JHMI, and Sibley Memorial Hospital. The outlook on all ratings is stable. "The rating reflects our view of JHHS' strong business position, diverse revenue base, and adequate balance sheet compared with similarly rated credits," said Standard & Poor's credit analyst Jessica Goldman. "While JHHS has operated under the global budget revenue agreement with Maryland's Health Services Cost Review Commission for one year, we believe some uncertainty remains around reimbursement under the arrangement and in our opinion the organization will need to leverage its size and expertise...

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