...August 23, 2024 ENGLEWOOD (S&P Global Ratings) Aug. 23, 2024--S&P Global Ratings assigned its '##+' long-term rating to the Michigan State Housing Development Authority's (MSHDA) 2024 series A rental housing revenue bond (RHRB) general resolution bonds. At the same time, we affirmed our '##+' long-term and underlying rating on bonds outstanding in the RHRB resolution, and multiple '##+/A-1+' and '##+/A-1' dual and joint support ratings on the authority's adjustable-rate bonds outstanding. The outlook, where applicable, is stable. Bonds issued under the RHRB general resolution are secured by and payable from all pledged funds as defined in the resolution, including revenues, the bond proceeds fund, the capital reserve fund, and the capital reserve capital account. In addition, all bonds issued under the general resolution, including the planned 2024 series A bonds, are also general obligations of MSHDA. The authority has no taxing power, but its full faith and credit are pledged to the payment...
