...S&P Global Ratings affirmed its '##-' long-term rating on various series of debt issued on behalf of The Johns Hopkins Health System Obligated Group's (JHHS). At the same time, S&P Global Ratings affirmed its '##-' rating on Maryland Health & Higher Educational Facilities Authority's series 2015A bonds, issued for JHMI Utilities LLC (JHMI) and guaranteed by JHHS. The outlook on all ratings is stable. The rating on JHHS reflects the system's favorable enterprise profile, evidenced by its long history and strong reputation as the academic medical center for Johns Hopkins University School of Medicine and its solid market position in a sizable and diverse service area. In addition, JHHS maintains a consistent financial profile, highlighted by stable, albeit modest, operational performance, and sound liquidity and financial flexibility that is generally in line with similarly rated peers. Fiscal 2018 operating results were better than prior year levels, and slightly better than budgeted expectations,...
