NEW YORK (Standard&Poor's) March 12, 2015--Standard&Poor's Ratings Services placed its 'AA+/A-1' rating on Michigan State Housing Development Authority's (MSHDA's) series 2006C and 2007D-1 variable-rate single-family mortgage revenue bonds, and its 'AA/A-1' rating on MSHDA's series 2006A rental housing revenue bonds, on CreditWatch with negative implications, due to potential impacts on the short-term component of the dual ratings. This action follows Standard&Poor's Feb. 3, 2015, placement of its ratings on Barclays Bank PLC, the liquidity facility provider for the above-mentioned bonds, on CreditWatch with negative implications. The 'AA+/A-1' and 'AA/A-1' dual ratings are subsequently on CreditWatch negative, since the 'A-1' short-term component of the ratings is based on the short-term rating on the liquidity provider,
