Maryland Economic Development Corp.; Auxiliary - Stand Alone

S&P Global Ratings assigned its 'BBB' long-term rating on Maryland Economic Development Corp.'s (Medco) $31.66 million series 2017 senior student housing project and refunding revenue bonds issued on behalf of Towson University project. S&P Global Ratings also affirmed its 'BBB' long-term rating on Medco's series 2007A senior student housing revenue bonds and its series 2012 senior student housing revenue bonds, both issued on behalf of the Towson University project. We understand the series 2017 bonds are largely being issued to current refund the series 2007A bonds and upon the series 2017 issue closing successfully the rating associated with series 2007A bonds will be withdrawn. The outlook is stable on the series 2007A, 2012, and 2017 issues. Towson University is a

...S&P Global Ratings assigned its '###' long-term rating on Maryland Economic Development Corp.'s (Medco) $31.66 million series 2017 senior student housing project and refunding revenue bonds issued on behalf of Towson University project. S&P Global Ratings also affirmed its '###' long-term rating on Medco's series 2007A senior student housing revenue bonds and its series 2012 senior student housing revenue bonds, both issued on behalf of the Towson University project. We understand the series 2017 bonds are largely being issued to current refund the series 2007A bonds and upon the series 2017 issue closing successfully the rating associated with series 2007A bonds will be withdrawn. The outlook is stable on the series 2007A, 2012, and 2017 issues. Towson University is a member institution of the University System of Maryland (USM; see the full analysis on the University System of Maryland, published Jan. 23, 2017, on RatingsDirect). Medco used series 2012 bond proceeds to acquire its second...

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