...S&P Global Ratings assigned its '##+' long-term rating to the Michigan State Housing Development Authority's (MSHDA's) series 2020 C and D single-family mortgage revenue bonds. At the same time, S&P Global Ratings affirmed its long- and short-term ratings on all outstanding parity debt issued under the authority's mortgage revenue bond program. The outlook is stable. According to preliminary transaction documents, the 2020 series C and D bonds will be issued with a total par amount of $277.34 million and will bear interest at fixed rates as detailed in the official statement. The $184.28 million 2020 C (non-AMT) bonds are fixed-rate serial, term, and planned amortization class bonds with various maturities, and the $93.06 million 2020 series D (federally taxable) bonds are fixed-rate, with both serial and term maturities. Bond proceeds will be used to help originate new single-family loans and down payment assistance loans throughout the State of Michigan, to make a deposit to the capital...
