Standard&Poor's Ratings Services assigned its 'AA+/A-1+' rating to Michigan State Housing Development Authority's single-family mortgage revenue bonds series 2007D-1 based on the conversion to a variable-rate weekly mode from the fixed-rate mode, and affirmed its 'AA+/A-1+' rating on series 2007D-2. The series 2007D bonds were converted to the variable-rate and term-rate modes and were split into two series of bonds, D-1 and D-2. The series 2007D-2 bonds have been affirmed at the 'AA+/A-1+' rating based on the term-rate mode and reflects a mandatory tender within 13 months. The 'A-1+' short-term component of the rating on the series D-1 variable bonds reflects a standby bond purchase agreement (SBPA) provided by Bank of America N.A. (AA/ Watch Neg/A-1+). The series
