Summary: Michigan State Housing Development Authority; General Obligation; Joint Criteria; Multifamily Whole Loan - S&P Global Ratings’ Credit Research

Summary: Michigan State Housing Development Authority; General Obligation; Joint Criteria; Multifamily Whole Loan

Summary: Michigan State Housing Development Authority; General Obligation; Joint Criteria; Multifamily Whole Loan - S&P Global Ratings’ Credit Research
Summary: Michigan State Housing Development Authority; General Obligation; Joint Criteria; Multifamily Whole Loan
Published Feb 13, 2023
6 pages (2256 words) — Published Feb 13, 2023
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings raised its long-term and underlying ratings on the Michigan State Housing Development Authority's (MSHDA) rental housing revenue bond (RHRB) general resolution bonds one notch to 'AA+' from 'AA'. At the same time, we assigned our 'AA+' rating to the authority's 2023 series A and B RHRBs. The upgrade reflects the application of our "Methodology For Rating U.S. Public Finance Mortgage Revenue Bond Programs", published Oct. 10, 2022. The ratings are no longer under criteria observation. The outlook, where applicable, is stable. Bonds issued under the RHRB general resolution are secured by and payable from all pledged funds as defined in the resolution, including revenues, the bond proceeds fund, the capital reserve fund, and the capital reserve capital

  
Brief Excerpt:

...+ S&P Global Ratings raised its long-term and underlying ratings on the Michigan State Housing Development Authority's (MSHDA) rental housing revenue bond (RHRB) general resolution bonds one notch to '##+' from '##'. + At the same time, we assigned our '##+' rating to the authority's 2023 series A and B RHRBs. + The upgrade reflects the application of our "Methodology For Rating U.S. Public Finance Mortgage Revenue Bond Programs", published Oct. 10, 2022. + The ratings are no longer under criteria observation. + The outlook, where applicable, is stable....

  
Report Type:

Summary

Issuer
Michigan St Hsg Dev Auth
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Michigan State Housing Development Authority; General Obligation; Joint Criteria; Multifamily Whole Loan" Feb 13, 2023. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Michigan-State-Housing-Development-Authority-General-Obligation-Joint-Criteria-Multifamily-Whole-Loan-2948223>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Michigan State Housing Development Authority; General Obligation; Joint Criteria; Multifamily Whole Loan Feb 13, 2023. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Michigan-State-Housing-Development-Authority-General-Obligation-Joint-Criteria-Multifamily-Whole-Loan-2948223>
  
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