Moody's rates Johns Hopkins University bonds Aa2

Moody's Investors Service said it assigned an Aa2 rating to Johns Hopkins University's $129.025 million fixed-rate series 2008A bonds to be issued through the Maryland Health and Higher Educational Facilities Authority.

The expected sale date is July 23.

Proceeds will be used to refinance a portion of outstanding commercial paper and also pay for various campus renovations, including construction of a new medical education building in East Baltimore, purchase of an office building, and investment in a life sciences and technology park.

The outlook is positive.

Moody's said the university is also expected to issue about $125 million of variable-rate demand refunding revenue bonds later in the summer and will assign a rating to those series 2008B bonds after further review.

Moody's affirmed its ratings on the university's outstanding rated bonds and commercial paper programs and revised the outlook to positive from stable, reflecting healthy growth of research funding and gift flow and the university's solid student market position.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.