Moody's assigns Aa2 to Michigan State Housing Dev. Auth.'s Single Family Mortgage Rev. Bonds Series 2018 C&D; outlook stable

Moody's affirms VMIG 1 to Michigan State Housing Dev. Auth.'s Single-Family Mortgage Rev. Bonds, 2006 Series C - Rating Action – 2020/04/02 – US$ 180.00 – ...ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK. All information contained herein is obtained by MOODY'S from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, all information contained herein is provided "AS IS" without warranty of any kind. MOODY'S adopts all necessary measures so that the information it uses in assigning a credit rating is of sufficient quality and from sources MOODY'S considers to be reliable including, when appropriate, independent third-party sources. However, MOODY'S is not an auditor and cannot in every instance independently verify or validate information received in the rating process or in preparing its Publications. To the extent permitted by law, MOODY'S and its directors, officers,...

Moody's affirms VMIG 1 to Michigan State Housing Dev. Auth. Single Family Mortgage Rev. Bonds 2007 Series E - Rating Action – 2019/10/17 – US$ 180.00 – ...MOODY'S CREDIT RATINGS AND MOODY'S PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS OR MOODY'S PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. CREDIT RATINGS AND MOODY'S PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK. All information contained...

Moody's assigns Aa2 to Michigan State Housing Dev. Auth. Single Family Mortgage Rev. Bonds 2019 Series B and C; outlook stable - Rating Action – 2019/09/27 – US$ 180.00 – ...MOODY'S CREDIT RATINGS AND MOODY'S PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS OR MOODY'S PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. CREDIT RATINGS AND MOODY'S PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK. All information contained...

Michigan State HDA - Sgle-Fam. Mtge. Rev. Bds: Update to credit analysis - Credit Opinion – 2019/04/09 – US$ 250.00 – ...As of June 30 Source: MSHDA's management, MSHDA's audited financial statements, and Moody's calculations and adjustments...

Moody's assigns Aa2 to Michigan State Housing Dev. Auth. Single Family Mortgage Rev. Bonds 2019 Series A; outlook stable - Rating Action – 2019/02/28 – US$ 180.00 – ...MOODY'S CREDIT RATINGS AND MOODY'S PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS OR MOODY'S PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. CREDIT RATINGS AND MOODY'S PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK. All information contained...

Michigan State HDA- Sgle-Fam. Mtge. Rev. Bds: Update to credit analysis - Credit Opinion – 2018/02/28 – US$ 250.00 – ...Michigan State Housing Development Authority (MSHDA) Single Family Mortgage Revenue Bonds' (the "program") strong credit quality (Aa2, stable) is supported by its favorable financial position that is characterized by fairly high asset-to-debt ratio and ample liquid resources. This is further enhanced by the pledge of multiple sources of debt payments and the oversight of a capable and active management team. Offsetting these attributes is lower profitability that is expected to improve, and the presence of a high level of variable rate debt and related derivative instruments that have the potential of constraining financial flexibility....

Moody's assigns Aa2 to MI State Housing Dev. Auth. Single Family Mortgage Rev. Bonds 2018 Series A&B; outlook stable - Rating Action – 2018/02/26 – US$ 180.00 – ...MOODY'S CREDIT RATINGS AND MOODY'S PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS OR MOODY'S PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. CREDIT RATINGS AND MOODY'S PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK. All information contained...

Michigan State Housing Development Authority: Update - Moody's affirms VMIG 1 to Michigan St. Hsg. Dev. Auth. Sgl. Fam. Mort. Rev. Bds., 2007 Ser. B&2009 Ser. D - Rating Update – 2017/10/19 – US$ 250.00 – ...Moody's Investors Service has affirmed the short-term ratings of VMIG 1 on the Michigan State Housing Development Authority (the "Authority" or "MSHDA") Single Family Mortgage Revenue Bonds, 2007 Series B (Tax-Exempt Variable Rate Bonds) & 2009 Series D (collectively, the "Bonds"). The long-term rating assigned to the Bonds is Aa2. The outlook is stable. The affirmations are based on the substitution of the existing standby bond purchase agreements (hereinafter the "SBPA(s)") provided by the Federal Home Loan Bank of Topeka (one for each series) with SBPAs provided by Industrial and Commercial Bank of China Ltd., New York Branch ("ICBC" or the "Bank"). Each substitution shall take effect on November 2, 2017. The Bank's respective long and short counterparty risk assessments ("CR" or "cr") are A-1(cr)/P-1(cr) by Moody's. Each VMIG 1 rating reflects the applicable SBPA provided by ICBC and expires upon the earliest of to occur of (i) the mandatory tender date resulting from the expiration...

Moody's affirms VMIG 1 to Michigan St. Hsg. Dev. Auth. Sgl. Fam. Mort. Rev. Bds., 2007 Ser. B&2009 Ser. D - Rating Action – 2017/10/19 – US$ 180.00 – ...MOODY'S CREDIT RATINGS AND MOODY'S PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS OR MOODY'S PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. All information contained herein is obtained by MOODY'S from sources believed by it to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, all information contained herein is provided "AS...

Michigan State Housing Development Authority: New Issue - Moodys assigns Aa2 to MI State Housing Dev. Auth Single Family Mortgage Rev. Bonds 2017 A&B; outlook stable - New Issue – 2017/09/27 – US$ 750.00 – ...Moody's Investors Service has assigned an Aa2 rating to approximately $138.4 million of the proposed Michigan State Housing Development Authority (MSHDA), Single Family Mortgage Revenue Bonds, 2017 Series A (Index Rate) and 2017 Series B (Fixed Rate) (collectively, the "Bonds"). Concurrently, we have affirmed the Aa2 and VMIG 1 ratings on all outstanding Single Family Mortgage Revenue Bonds, issued and outstanding under the General Resolution, adopted December 17, 1987, as amended and supplemented. The outlook on the rating is stable. The Aa2 rating reflects the high asset-to-debt ratio of the Single Family Mortgage Revenue Bonds program (program), the diversity of the pledged security, and active management and oversight. These strengths are countered by above average risk profile of the asset base, improving but still challenging operating environment, and the high level of variable rate debt and related derivative instruments that constrain financial flexibility....