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) $107.5 million tax-exempt series 2021B bonds, issued for University of Maryland Medical System (UMMS), purchased directly by Barclay's. In addition, S&P Global Ratings affirmed its 'A' long-term rating on various health care revenue bonds outstanding issued for UMMS. The outlook is stable. S&P Global Ratings also affirmed the 'AA+/A-1+' rating on MHHEFA's series 2008D variable-rate revenue bonds. The rating on these bonds reflects the application of our low-correlation joint criteria. The long-term component of the rating is based jointly on a bank-supported letter of credit (LOC) and our 'A' underlying rating on UMMS. The short-term component of the rating is based solely on

...S&P Global Ratings assigned its 'A' long-term rating to Maryland Health & Higher Education Facilities Authority's (MHHEFA) $107.5 million tax-exempt series 2021B bonds, issued for University of Maryland Medical System (UMMS), purchased directly by Barclay's. In addition, S&P Global Ratings affirmed its 'A' long-term rating on various health care revenue bonds outstanding issued for UMMS. The outlook is stable. S&P Global Ratings also affirmed the '##+/A-1+' rating on MHHEFA's series 2008D variable-rate revenue bonds. The rating on these bonds reflects the application of our low-correlation joint criteria. The long-term component of the rating is based jointly on a bank-supported letter of credit (LOC) and our 'A' underlying rating on UMMS. The short-term component of the rating is based solely on the rating on the LOC provider, TD Bank N.A. The series 2021B bonds were issued to refund the system's series 2007A variable-rate demand bonds backed by Wells Fargo and 2017A bonds, held by JP...

Summary