Standard&Poor's Ratings Services assigned its 'AA+/A-1+' rating to Michigan State Housing Development Authority's (MSHDA) series 2007B, 2007C, and 2009D single-family mortgage revenue bonds (remarketed). The outlook is stable. These ratings are assigned in connection with the remarketing of the bonds following the substitution of a standby irrevocable temporary credit and liquidity facility provided by Fannie Mae and Federal Home Loan Mortgage Corp. with standby bond purchase agreements (SBPAs) provided by Federal Home Loan Bank (FHLB) of Topeka. The long-term component of the rating reflects the rating on the authority's single-family mortgage revenue bonds (AA+/Stable). The short-term component of the rating reflects the rating on the SBPA provider, FHLB of Topeka. The long-term component of the rating also reflects
