CHICAGO (Standard&Poor's) April 7, 2015--Standard&Poor's Ratings Services said that it raised its underlying rating (SPUR) on the Michigan Finance Authority's (MFA) series 2010A-D and 2014A bonds to 'AA+' from 'AA'. At the same time, we assigned our 'AA+' long-term rating to the MFA's series 2015A school loan revolving fund revenue bonds. "The upgrade reflects an improved financial risk profile, which we view as extremely strong," said Standard&Poor's credit analyst Scott Garrigan. We have also affirmed our 'AAA' long-term rating on MFA's series 2010A-C and 2014A bonds based on the application of our joint criteria (assuming low correlation) among the authority, the obligor, and the letter of credit (LOC) providers. "The 'AA+' SPURs reflect a
