Summary: Michigan Finance Authority; Joint Criteria; State Revolving Funds/Pools

S&P Global Ratings affirmed its 'AA+' long-term rating on the Michigan Finance Authority's (MFA) series 2010D, 2015A, 2019A, and 2019B school loan revolving fund (SLRF) revenue bonds. We also affirmed our 'AA+/A-1' joint rating on MFA's series 2019C SLRF revenue refunding bonds, reflecting the application of our joint criteria that incorporates our long-term ratings on both the SLRF program and Bank of America N.A., and our 'AA+/A-1' joint rating on MFA's series 2019D SLRF revenue refunding bonds, reflecting the application of our joint criteria that incorporate our long-term ratings on both the SLRF program and PNC Bank N.A. The outlook, where applicable, is stable. We received notice that MFA intends to optionally redeem series 2019C and 2019D bonds and transfer

...+ S&P Global Ratings affirmed its '##+' long-term rating on the Michigan Finance Authority's (MFA) series 2010D, 2015A, 2019A, and 2019B school loan revolving fund (SLRF) revenue bonds. + We also affirmed our '##+/A-1' joint rating on MFA's series 2019C SLRF revenue refunding bonds, reflecting the application of our joint criteria that incorporates our long-term ratings on both the SLRF program and Bank of America N.A., and our '##+/A-1' joint rating on MFA's series 2019D SLRF revenue refunding bonds, reflecting the application of our joint criteria that incorporate our long-term ratings on both the SLRF program and PNC Bank N.A. + The outlook, where applicable, is stable. + We received notice that MFA intends to optionally redeem series 2019C and 2019D bonds and transfer pledged cash on hand in exchange for loan transfers from unpledged to pledged asset buckets. Our rating analysis incorporates these changes....

Summary