...March 24, 2022 CENTENNIAL (S&P Global Ratings) March 24, 2022--S&P Global Ratings raised its long-term rating to '###-' from '##' on the Maryland Economic Development Corp.'s (MEDCO) series 2018A and 2018B senior parking facility revenue bonds and to '##+' from '##-' on MEDCO's series 2018C subordinate-lien parking facility revenue bonds. The outlook is positive. "The upgrade reflects the parking system's demonstrated rate-setting flexibility and strong demand and revenue recovery trends that have been near or above our expectations and our updated activity recovery estimates," said S&P Global Ratings credit analyst Kayla Smith. "We believe the demand levels are sustainable and support an improved market position assessment and strong enterprise risk profile." Pledged revenue consists of parking facility receipts from the three parking garages, totaling 2,454 spaces, located in the city's waterfront location, which are operated by MEDCO under a 50-year lease with the City of Baltimore....
