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

Published Aug 21, 2024

6 pages (2199 words) — Published Aug 21, 2024

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Abstract:

S&P Global Ratings raised its long-term rating on Maryland Economic Development Corp.'s (MEDCO) senior student housing revenue bonds (Towson University project) series 2012 and senior student housing project and refunding revenue bonds (Towson University project) series 2017, issued for the Towson University project, to 'BBB-' from 'BB+'. The outlook is stable. The upgrade reflects our view of the project's continued occupancy recovery in fall 2023 and projections of nearly 100% occupancy for fall 2024. The upgrade also reflects our view of expected debt service coverage (DSC) of approximately 1.7x in fiscal 2024 and solid performance expected to continue in fiscal 2025. We expect that occupancy at the project will remain high given the somewhat limited on-campus housing availability relative to student

Brief Excerpt:

...Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed WWW.STANDARDANDPOORS.COM/RATINGSXPRESS AUGUST 21, 2024 4...

Report Type:

Summary

Issuer

Maryland Economic Development Corp.

Sector

Global Issuers, Public Finance

Country

United States

Region

United States

Format:

PDF

Bowie State University, MD Series 2020 Revenue Bond Rating Lowered To 'BB+' On Student Occupancy, Coverage – 2025/01/30 – US$ 150.00

Bowie State University, MD Series 2015 Revenue Bond Outlook Revised To Negative On Student Occupancy, Coverage – 2025/01/30 – US$ 150.00

Summary: Bowie State University, Maryland Maryland Economic Development Corp.; Auxiliary - Stand Alone – 2025/01/30 – US$ 225.00

Maryland Economic Development Corp.; Auxiliary - Stand Alone – 2025/03/25 – US$ 500.00

Towson University, MD Series 2012 And 2017 Student Housing Bond Rating Raised To 'BBB-' From 'BB+' On Occupancy Recovery – 2024/08/21 – US$ 150.00

Summary: Maryland Economic Development Corp. University Of Maryland-Baltimore; Auxiliary - Stand Alone – 2024/08/20 – US$ 225.00

Maryland Economic Development Corp. Series 2024 Student-Housing Revenue Bonds Rated 'BBB-'; Outlook Stable – 2024/06/26 – US$ 150.00

Maryland Economic Development Corp.; Auxiliary - Stand Alone – 2024/06/26 – US$ 500.00

Summary: Maryland Economic Development Corp.; Auxiliary - Stand Alone – 2024/06/26 – US$ 225.00

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MLA:	S&P Global Ratings’ Credit Research. "Summary: Maryland Economic Development Corp. Towson University; Auxiliary - Stand Alone" Aug 21, 2024. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Maryland-Economic-Development-Corp-Towson-University-Auxiliary-Stand-Alone-3234289>

APA:	S&P Global Ratings’ Credit Research. (). Summary: Maryland Economic Development Corp. Towson University; Auxiliary - Stand Alone Aug 21, 2024. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Maryland-Economic-Development-Corp-Towson-University-Auxiliary-Stand-Alone-3234289>

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