S&P Global Ratings assigned its 'A' long-term rating to the Massachusetts Development Finance Agency ?s approximately $176.3 million series 2025 revenue bonds, issued for PRG Medford Properties Inc . (PMP), a Massachusetts nonprofit corporation. The outlook is stable. The bonds will be secured by revenues of the project, a leasehold mortgage and security interest, and funds including a debt service reserve fund, capitalized interest, and a repair and replacement fund. The bonds will be fixed rate with a 40-year maturity. Interest on the bonds will be capitalized during construction and for approximately six months beyond project completion. Bond proceeds will finance the construction of a 664-bed residence hall with apartment-style units accommodating one-to-six residents in private bedrooms. The facility will
