Summary: Loudoun County Industrial Development Authority, Maryland Howard Hughes Medical Institute; Non-Profit Organizations

S&P Global Ratings affirmed its 'AAA/A-1+' issuer credit rating (ICR) on Howard Hughes Medical Institute (HHMI), Md. S&P Global Ratings also affirmed its 'AAA/A-1+' dual rating on Loudoun County Industrial Development Authority, Va.'s series 2019A, series 2013A multimodal tax-exempt revenue bonds, series 2003A-F variable rate bonds, and 2009B variable rate bonds, issued for HHMI. S&P Global Ratings also affirmed its 'AAA/A-1+' dual rating on Maryland Economic Development Corp.'s series 2008A and 2008B multimodal revenue bonds issued for HHMI. The outlook, where applicable, is stable. As of the fiscal year ended Aug. 31, 2021, HHMI had approximately $811.7 million of debt outstanding including bonds payable of $770.9 million, a $40.4 million note payable, and $357,000financing lease obligations. In addition, HHMI has

...S&P Global Ratings affirmed its '###/A-1+' issuer credit rating (ICR) on Howard Hughes Medical Institute (HHMI), Md. S&P Global Ratings also affirmed its '###/A-1+' dual rating on Loudoun County Industrial Development Authority, Va.'s series 2019A, series 2013A multimodal tax-exempt revenue bonds, series 2003A-F variable rate bonds, and 2009B variable rate bonds, issued for HHMI. S&P Global Ratings also affirmed its '###/A-1+' dual rating on Maryland Economic Development Corp.'s series 2008A and 2008B multimodal revenue bonds issued for HHMI. The outlook, where applicable, is stable. As of the fiscal year ended Aug. 31, 2021, HHMI had approximately $811.7 million of debt outstanding including bonds payable of $770.9 million, a $40.4 million note payable, and $357,000financing lease obligations. In addition, HHMI has $138.2 million of operating lease liabilities. HHMI's general obligation, full-faith-and-credit pledge secures the bonds. The ICR reflects the obligor's general creditworthiness,...

Summary