Standard&Poor's Ratings Services assigned its 'AA-/A-1+' rating to Maryland Health and Higher Educational Facilities Authority's (Johns Hopkins Health System Obligated Group) revenue bonds series 2008A, issued on behalf of The Johns Hopkins Health System, based on an irrevocable direct-pay LOC provided by PNC Bank (AA-/A-1+). The LOC, which initially expires on Aug. 24, 2013, unless terminated earlier pursuant to its terms, covers the purchase price of tendered but unremarketed bonds as well as principal of and up to 42 days' interest calculated at the maximum rate of 10%. The bonds will initially be offered in the weekly mode but may be converted to bear interest in the weekly, short-term, or long-term modes. Upon such conversion, the bonds are
