S&P Global Ratings assigned its 'AA+' long-term rating to the Michigan State Housing Development Authority's (MSHDA's) 2023 series B and C single-family mortgage revenue bonds (SFMRB). At the same time, we affirmed our 'AA+' long-term rating and various short-term ratings on bonds outstanding within the SFMRB resolution. The outlook, where applicable, is stable. All bonds issued under the SFMRB general resolution, including the planned 2023 series B and C bonds (together the 2023BC bonds), are general obligations of MSHDA. The authority has no taxing power, but its full faith and credit are pledged to the payment of the interest on and the principal or redemption price of the bonds. In addition, pledged property, as defined in transaction documents generally includes
