NEW YORK (Standard&Poor's) Aug. 7, 2013--Standard&Poor's Ratings Services today corrected its rating on Michigan Finance Authority's student loan refunding revenue bonds series XII-R to 'AA (sf)' from 'AAA (sf)'. The bonds, which were issued out of Michigan Finance Authority's Series XII master trust, were rated 'AAA (sf)' at issuance in 1999. However, because of an error, we did not include this rating in our system, nor did we publish the rating at that time. Also, we took several subsequent ratings actions on the other series issued from this master trust, but as a result of this error, we did not include the series XII-R in these actions. The corrected rating reflects the Standard&Poor's underlying
