Summary: Maryland Economic Development Corp.; Auxiliary - Stand Alone - S&P Global Ratings’ Credit Research

Summary: Maryland Economic Development Corp.; Auxiliary - Stand Alone

Summary: Maryland Economic Development Corp.; Auxiliary - Stand Alone - S&P Global Ratings’ Credit Research
Summary: Maryland Economic Development Corp.; Auxiliary - Stand Alone
Published Dec 06, 2023
6 pages (2207 words) — Published Dec 06, 2023
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings affirmed its 'BBB-' long-term rating on Maryland Economic Development Corp.'s (MEDCO) series 2020 (Thurgood Marshall) student housing revenue bonds, series 2022 (Morgan View) revenue refunding bonds, and series 2022A student housing revenue bonds (Legacy Hall, previously Thurgood Marshall Project 3). The outlook is stable. Morgan View, Thurgood Marshall, and Legacy Hall combined project revenues and assets secure the bonds. As of June 30, 2023, the projects' total debt outstanding was approximately $215.2 million. Capitalized interest funds covered debt service on the series 2020 bonds through fiscal 2023 and will further cover debt service on the series 2022A bonds through 2025. Under the bond documents, the projects maintain a debt service reserve fund (DSRF) equal to or greater

  
Brief Excerpt:

...+ S&P Global Ratings affirmed its '###-' long-term rating on Maryland Economic Development Corp.'s (MEDCO) series 2020 (Thurgood Marshall) student housing revenue bonds, series 2022 (Morgan View) revenue refunding bonds, and series 2022A student housing revenue bonds (Legacy Hall, previously Thurgood Marshall Project 3). + The outlook is stable....

  
Report Type:

Summary

Issuer
Maryland Economic Development Corp.
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Maryland Economic Development Corp.; Auxiliary - Stand Alone" Dec 06, 2023. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Maryland-Economic-Development-Corp-Auxiliary-Stand-Alone-3099156>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Maryland Economic Development Corp.; Auxiliary - Stand Alone Dec 06, 2023. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Maryland-Economic-Development-Corp-Auxiliary-Stand-Alone-3099156>
  
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