CHICAGO (S&P Global Ratings) Jan. 22, 2020--S&P Global Ratings assigned its 'BBB-' long-term rating to Maryland Economic Development Corp.'s (MEDCO) series 2020 student housing revenue bonds, issued on behalf of Bowie State University (BSU; a member institution of University System of Maryland [USM]). The outlook is stable. "The 'BBB-' rating reflects our view of the project's anticipated ability to generate solid occupancy given the current demand for student housing at BSU, the building's highly visible and strategic position on campus and features that include a new entrepreneurship center and ground floor retail space," said S&P Global Ratings credit analyst Sean Wiley. In addition, the rating reflects our view of the project's multi-tiered governance and management with direct management provided by
