The 'AA+' rating on University of Maryland System's bonds reflects a tuition and fee pledge supported by: * The system's role as the main provider of public higher education in Maryland, * Stable enrollment and admissions, * Strong historical financial performance, and * Moderate debt burden. The system has agreed to collect tuition revenues and auxiliary facility fees each year in an amount to equal not less than 2 times (x) maximum annual debt service on all bonds. Current pledged revenues cover pro forma debt service by about 8.2x. Bond proceeds will be used to finance a portion of $174 million worth of projects, including new projects and renovations on various system campuses. Remaining project costs will be financed with...
Companies mentioned in this report are:
- Univ Sys of Maryland
Action: New Rating
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