Moody's Investors Service announced Chevy Chase. Md.-based Howard Hughes Medical Institute's redemption of $1.2 billion worth of taxable fixed rate bonds will positively impact its leverage profile.
While the redemption is credit positive, it will reduce the amount of self-liquidity available for the institute's variable-rate bonds.
Howard Hughes Medical Institute's overall wealth is exemplary, and its $20.4 billion in financial resources in fiscal year 2018 provides strong coverage of debt and operations.