Standard&Poor's Ratings Services assigned its 'AA+' rating to the Michigan State Housing Development Authority's single-family housing revenue bonds, series 2007A, and also assigned its 'AA+/A-1+' rating to the authority's variable-rate housing revenue bonds, series 2007B and 2007C. The ratings are based on: The authority's excellent track record for single-family programs; Good quality of the mortgage loan collateral and historical performance during a 10-year period; Sufficient reserves for Standard&Poor's Ratings Services' forecasted loan losses at the 'AA' level; Cash flow strength with current asset liability parity of 126%; Strong credit quality of investments; and The authority's designation as a top-tier agency and its 'AA' GO rating, which reflect superior managerial strength and financial resources. The authority's series
