Summary: Maryland Health&Higher Education Facilities Authority University of Maryland Medical System; Joint Criteria; System

S&P Global Ratings assigned its 'A' long-term rating to Maryland Health&Higher Education Facilities Authority's (MHHEFA) tax-exempt series 2020A-C bonds, and taxable 2020D bonds, issued for University of Maryland Medical System (UMMS). In addition, S&P Global Ratings has affirmed its 'A' long-term rating on various outstanding series of health care revenue bonds issued for UMMS. Our dual ratings on MHHEFA's series 2008D and 2008E variable-rate revenue bonds are 'AA+/A-1+' and 'AA+/A-1', respectively. The rating on these bonds reflects the application of our low-correlation joint criteria. The long-term components of the ratings are based jointly on bank-supported letters of credit (LOCs) and our 'A' underlying rating on UMMS. The short-term components of the ratings are based solely on the ratings

...S&P Global Ratings assigned its 'A' long-term rating to Maryland Health & Higher Education Facilities Authority's (MHHEFA) tax-exempt series 2020A-C bonds, and taxable 2020D bonds, issued for University of Maryland Medical System (UMMS). In addition, S&P Global Ratings has affirmed its 'A' long-term rating on various outstanding series of health care revenue bonds issued for UMMS. Our dual ratings on MHHEFA's series 2008D and 2008E variable-rate revenue bonds are '##+/A-1+' and '##+/A-1', respectively. The rating on these bonds reflects the application of our low-correlation joint criteria. The long-term components of the ratings are based jointly on bank-supported letters of credit (LOCs) and our 'A' underlying rating on UMMS. The short-term components of the ratings are based solely on the ratings on the LOC providers, which are TD Bank N.A. for the series 2008D, and Bank of Montreal for the series 2008E. The $790.75 million (including an estimated $19 million of original issue premium)...

Summary