Standard&Poor's Ratings Services affirmed its 'AA+/A-1+' ratings on Michigan State Housing Development Authority's (MSHDA) single-family revenue bonds series 2007B, 2007C, and 2009D, reflecting a extension of the Treasury's Temporary Credit and Liquidity Program. Standard&Poor's expects that the existing enhancements will continue to be available to enhance these bonds. Under this program, one master irrevocable standby temporary credit and liquidity facility (C&L Facility), issued by Fannie Mae and Freddie Mac (GSEs) in favor of the trustee, will support the three series of bonds. The credit facility is set to expire Dec. 22, 2015. At the same time, Standard&Poor's affirmed its 'AA+' long-term and underlying (SPUR) ratings on the issuer's parity debt. For more
