...March 14, 2024 ENGLEWOOD (S&P Global Ratings) March 14, 2024--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 raised its long-term rating 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 revenue recovery trends that we believe are sustainable and consistent with a higher rating," said S&P Global Ratings credit analyst Ken Biddison. The positive outlook reflects our opinion that there is at least a one-in-three chance that we could raise the rating within the two-year outlook period if we believe demand and financial metrics are supportive of a higher rating. We could revise the outlook to stable if we expect debt service coverage (DSC) will be below 1.25x and debt to EBIDA will be between 10x-15x....
