...S&P Global Ratings assigned its '###' rating to Maryland Economic Development Corp.'s (MEDCO) pro forma $54.4 million series 2018A-B senior parking facility revenue bonds and its '###-' rating to MEDCO's $11.6 million series 2018C subordinate-lien parking facility revenue bonds using our "U.S. And Canadian Not-For-Profit Transportation Infrastructure Enterprises" criteria, published March 12, 2018. The outlook is stable. The rating reflects our view of the parking system's strong enterprise risk profile and adequate financial risk profile. The strong enterprise risk profile reflects the extremely strong economic fundamentals of the area, offset by high levels of competition for parking alternatives and the relatively small size of the system, which consists of only three parking garages. The adequate financial risk profile reflects the system's adequate financial performance and a manageable debt and liabilities capacity, as well as highly vulnerable liquidity and financial flexibility....
