Michigan Finance Authority Series 2021-1 Notes Assigned Preliminary Ratings

Michigan Finance Authority's series 2021-1 issuance is an ABS transaction backed by a pool of student loans that are at least 97% reinsured by the U.S. federal government. We assigned our preliminary ratings to the class A-1A and A-1B notes. The preliminary ratings reflect our view of the transaction's expected initial parity, payment structure, and legal structure, among other factors. CENTENNIAL (S&P Global Ratings) July 6, 2021--S&P Global Ratings today assigned its preliminary ratings to Michigan Finance Authority's taxable student loan asset-backed series 2021-1 notes (see list). The note issuance is an ABS transaction backed by a pool of student loans that are at least 97% reinsured by the U.S. federal government. The preliminary ratings are based on information as

...- Michigan Finance Authority's series 2021-1 issuance is an ABS transaction backed by a pool of student loans that are at least 97% reinsured by the U.S. federal government. - We assigned our preliminary ratings to the class A-1A and A-1B notes. - The preliminary ratings reflect our view of the transaction's expected initial parity, payment structure, and legal structure, among other factors. CENTENNIAL (S&P Global Ratings) July 6, 2021--S&P Global Ratings today assigned its preliminary ratings to Michigan Finance Authority's taxable student loan asset-backed series 2021-1 notes (see list). The note issuance is an ABS transaction backed by a pool of student loans that are at least 97% reinsured by the U.S. federal government. The preliminary ratings are based on information as of July 6, 2021. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings. The preliminary ratings reflect our view of: - The transaction's expected initial parity...

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