The 'AA-' rating on Maryland Health and Higher Educational Facilities Authority, Md.'s revenue bonds series 2003, issued for Johns Hopkins Hospital, reflects the hospital's: Very strong patient admissions trend and market position, Excellent medical staff, and Reputation as one of the world's leading academic medical centers. The preceding credit strengths are diminished by the Johns Hopkins Health System Corp.'s (JHHS) high debt leverage, low pro forma debt service coverage, and modest liquidity in comparison to Standard&Poor's 'AA' category median ratios for hospitals and health systems. The 898-staffed-bed Johns Hopkins Hospital is frequently cited by independent and authoritative sources for its excellence in patient care, teaching, and research; and is the flagship hospital and member of JHHS. All figures
