The rating on Michigan Higher Education Student Loan Authority's (MHESLA) student loan revenue bonds series XVII-Q is based on the unconditional and irrevocable bond insurance policy provided by Ambac Assurance Corp. (Ambac; 'AAA' insurer financial enhancement rating), which guarantees payment of scheduled principal and interest. Although the 'AAA' rating is dependent on Ambac's insurer financial enhancement rating, the underlying transaction is investment–grade quality based on the structural features that limit recycling and withdrawal of funds, a debt service reserve account, and the use of experienced servicing agents such as Nelnet Loan Services Inc., Sallie Mae Servicing Corp., and Great Lakes Educational Loan Services Inc. These bonds will be issued to provide funds to originate and acquire eligible loans, make deposits
