...October 23, 2020 CENTENNIAL (S&P Global Ratings) Oct. 23, 2020--S&P Global Ratings assigned its '##+' long-term rating to the Michigan State Housing Development Authority's (MSHDA's) series 2020 C and D single-family mortgage revenue bonds, and affirmed its ratings on all parity debt issued under the authority's mortgage revenue bond program. The outlook is stable. According to preliminary transaction documents, the 2020 series C and D bonds will be issued with a total par amount of $277.34 million and will bear interest at fixed rates as detailed in the official statement. The $184.28 million 2020 C (non-AMT) bonds are fixed-rate serial, term, and planned amortization class bonds with various maturities, and the $93.06 million 2020 series D (federally taxable) bonds are fixed-rate, with both serial and term maturities. Bond proceeds will be used to help originate new single-family loans and down payment assistance loans throughout the State of Michigan, to make a deposit to the capital...
