S&P rates University of Md. Medical System bonds A

Standard & Poor's said it assigned its A standard long-term rating and A underlying rating to Maryland Health and Higher Education Facilities Authority's $167.46 million series 2008F, 2008G and 2008H hospital revenue bonds issued for University of Maryland Medical System.

The series 2008F uninsured fixed-rate bonds ($89.715 million) are being issued to current refund the medical system's series 2004A Ambac Assurance Corp.-insured bonds. The series 2008G ($40.705 million) and 2008H ($37.04 million) bonds will be issued as variable-rate demand bonds backed by direct-pay letters of credit to be provided by Wachovia and M&T Bank. The series 2008G and 2008H bonds will current refund the medical system's series 2004C and 2004D Ambac-insured bonds.

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