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

S&P Global Ratings assigned its 'AA+' long-term rating to the Michigan State Housing Development Authority's (MSHDA's) series 2020AB single-family mortgage revenue bonds. At the same time, S&P Global Ratings affirmed its 'AA+', 'AA+/A-1+', 'AA+/A-1', and 'AA+/A-2' ratings on all parity debt issued under the authority's mortgage revenue bond program. The outlook is stable. The $160.5 million series 2020A (non-AMT) bonds are fixed-rate serial, term, and planned amortization class bonds with various maturities, and the $67.7 million 2020B (federally taxable) bonds are fixed-rate, with both serial and term maturities. The bond proceeds will be used to help originate new single-family loans, home improvement loans, and potential down payment assistance loans throughout the State of Michigan. The 'AA+' rating reflects our view

...S&P Global Ratings assigned its '##+' long-term rating to the Michigan State Housing Development Authority's (MSHDA's) series 2020AB single-family mortgage revenue bonds. At the same time, S&P Global Ratings affirmed its '##+', '##+/A-1+', '##+/A-1', and '##+/A-2' ratings on all parity debt issued under the authority's mortgage revenue bond program. The outlook is stable. The $160.5 million series 2020A (non-AMT) bonds are fixed-rate serial, term, and planned amortization class bonds with various maturities, and the $67.7 million 2020B (federally taxable) bonds are fixed-rate, with both serial and term maturities. The bond proceeds will be used to help originate new single-family loans, home improvement loans, and potential down payment assistance loans throughout the State of Michigan....

Summary