Maryland Health&Higher Education Facilities Authority University Of Maryland Medical System; Joint Criteria; System

S&P Global Ratings' long-term rating on the Maryland Health&Higher Education Facilities Authority's (MHHEFA) various series of health care revenue bonds issued for University of Maryland Medical System (UMMS) is 'A', and the outlook is stable. The rating on our dual ratings on MHHEFA's series 2008D and 2008E variable-rate revenue bonds is 'AA+/A-1+' and 'AA+/A-1', respectively. The rating on these bonds reflects the application of our low-correlation joint criteria. The long-term components of the ratings are based jointly on bank-supported letters of credit (LOCs) and our 'A' underlying rating on UMMS. The short-term components of the ratings are based solely on the ratings on the LOC providers, which are TD Bank N.A. (A-1+) for the series 2008D, and Bank

...S&P Global Ratings' long-term rating on the Maryland Health & Higher Education Facilities Authority's (MHHEFA) various series of health care revenue bonds issued for University of Maryland Medical System (UMMS) is 'A', and the outlook is stable. The rating on our dual ratings on MHHEFA's series 2008D and 2008E variable-rate revenue bonds is '##+/A-1+' and '##+/A-1', respectively. The rating on these bonds reflects the application of our low-correlation joint criteria. The long-term components of the ratings are based jointly on bank-supported letters of credit (LOCs) and our 'A' underlying rating on UMMS. The short-term components of the ratings are based solely on the ratings on the LOC providers, which are TD Bank N.A. (A-1+) for the series 2008D, and Bank of Montreal (A-1) for the series 2008E. The rating reflects UMMS favorable enterprise profile with a sound business position as one of Maryland's leading health systems, further strengthened through its acquisition of Dimensions Health...

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