Summary: Michigan State Housing Development Authority; General Obligation; Single Family Whole Loan

S&P Global Ratings raised the short-term component of its dual rating on Michigan State Housing Development Authority's (MSHDA) series 2006C, 2007B, 2007F, and 2009D single-family mortgage revenue bonds and series 2016C rental-housing revenue bonds to 'AA+/A-1+' from 'AA+/A-1'. The outlook is stable. The short-term rating component reflects our assessment of the replacement of the respective standby-bond-purchase agreement (SBPA) provided by TD Bank N.A. with a new SBPA provided by Federal Home Loan Bank of Indianapolis, effective Jan. 15, 2025. The long-term component of the rating will continue to reflect our view of MSHDA's single-family mortgage-revenue-bond resolution for the series 2006C, 2007B, 2007F, and 2009D bonds and rental-housing revenue-bond resolution for the series 2016C bonds. The short-term component of the rating

...S&P Global Ratings raised the short-term component of its dual rating on Michigan State Housing Development Authority's (MSHDA) series 2006C, 2007B, 2007F, and 2009D single-family mortgage revenue bonds and series 2016C rental-housing revenue bonds to '##+/A-1+' from '##+/A-1'. The outlook is stable. The short-term rating component reflects our assessment of the replacement of the respective standby-bond-purchase agreement (SBPA) provided by TD Bank N.A. with a new SBPA provided by Federal Home Loan Bank of Indianapolis, effective Jan. 15, 2025. The long-term component of the rating will continue to reflect our view of MSHDA's single-family mortgage-revenue-bond resolution for the series 2006C, 2007B, 2007F, and 2009D bonds and rental-housing revenue-bond resolution for the series 2016C bonds. The short-term component of the rating reflects our assessment of the respective new SBPAs provided by Federal Home Loan Bank of Indianapolis Each new SBPA covers principal and 187 days' interest...

Summary