Rating On Michigan Finance Authority's 2004A Local Government Loan Program Revenue Bonds (Ambac Insured Bonds) Withdrawn - S&P Global Ratings’ Credit Research

Rating On Michigan Finance Authority's 2004A Local Government Loan Program Revenue Bonds (Ambac Insured Bonds) Withdrawn

Rating On Michigan Finance Authority's 2004A Local Government Loan Program Revenue Bonds (Ambac Insured Bonds) Withdrawn - S&P Global Ratings’ Credit Research
Rating On Michigan Finance Authority's 2004A Local Government Loan Program Revenue Bonds (Ambac Insured Bonds) Withdrawn
Published May 15, 2018
3 pages (1052 words) — Published May 15, 2018
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

CHICAGO (S&P Global Ratings) May 15, 2018--S&P Global Ratings corrected by withdrawing its 'AA-' long-term rating and 'AA-' underlying rating (SPUR) on the Michigan Finance Authority's series 2004A Ambac Insured bonds, issued as part of its series 2004A local government loan program revenue bonds. We incorrectly rated the Ambac Insured bonds portion of the series 2004A local government loan program (LGLP) revenue bonds based on enhancement from the Michigan School Bond Qualification and Loan Program. We originally assigned a rating to the State Qualified School bonds, which were expected to be issued as a separate portion of the LGLP revenue bonds, based on the enhancement. However, the State Qualified School bonds were not issued as a separate portion, and the

  
Brief Excerpt:

...information. Complete ratings information is available to subscribers of RatingsDirect at www.capitaliq.com. All ratings affected by this rating action can be found on S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column....

  
Report Type:

Ratings Action

Issuer
Michigan Finance Authority
Sector
Global Issuers, Public Finance, Structured Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Rating On Michigan Finance Authority's 2004A Local Government Loan Program Revenue Bonds (Ambac Insured Bonds) Withdrawn" May 15, 2018. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Rating-On-Michigan-Finance-Authority-s-2004A-Local-Government-Loan-Program-Revenue-Bonds-Ambac-Insured-Bonds-Withdrawn-2038314>
  
APA:
S&P Global Ratings’ Credit Research. (). Rating On Michigan Finance Authority's 2004A Local Government Loan Program Revenue Bonds (Ambac Insured Bonds) Withdrawn May 15, 2018. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Rating-On-Michigan-Finance-Authority-s-2004A-Local-Government-Loan-Program-Revenue-Bonds-Ambac-Insured-Bonds-Withdrawn-2038314>
  
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