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General Obligations

Michigan Strategic Fund - Moody's Research Report

MOODY'S DOWNGRADES TO Aa3 FROM Aa1 THE LONG-TERM LETTER OF CREDIT-BACKED RATINGS OF THE MICHIGAN STRATEGIC FUND VARIABLE RATE LIMITED OBLIGATION REVENUE BONDS (CONSUMERS ENERGY COMPANY PROJECT), SERIES 2005 AND 2008; SHORT-TERM VMIG 1 RATINGS AFFIRMED

Posted on: August 3, 2012, 1:07 pm

NEW YORK, Aug 3, 2012 -- Moody's Investors Service has downgraded to Aa3 from Aa1 the long-term letter of credit-backed ratings of the Michigan Strategic Fund Variable Rate Limited Obligation Revenue Bonds (Consumers Energy Company Project), Series 2005 and 2008 (collectively, the Bonds) and affirmed the short-term VMIG 1 ratings currently assigned to the Bonds in conjunction with the substitution of the letters of credit provided by the Bank of Nova Scotia with letters of credit to be provided by JPMorgan Chase Bank, N.A. (the Bank)...

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