Fitch Rates Michigan Higher Education Student Loan Authority Series XVII I Bonds 'AAA'.Business Editors
NEW YORK--(BUSINESS WIRE)--Oct. 17, 2003
Fitch assigns the following ratings to Michigan Higher Education higher education
Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. Student Loan Authority's Student Loan Revenue and Refunding Bonds refunding bond
A bond that is issued for the purpose of retiring an outstanding bond. Issuers refund bond issues to reduce financing costs, eliminate covenants, and alter maturities. See also crossover refunding bonds, prerefunding. :
Ratings for new issuance:
-- $30,000,000 Student Loan Revenue Bonds, Series-XVII-I, 'AAA';
Ratings affirmed af·firm
v. af·firmed, af·firm·ing, af·firms
1. To declare positively or firmly; maintain to be true.
2. To support or uphold the validity of; confirm.
-- $15,000,000 Student Loan Revenue Bonds, Series XVII-A, 'AAA';
-- $25,000,000 Student Loan Revenue Bonds, Series XVII-B, 'AAA';
-- $13,400,000 Student Loan Refunding Revenue Bonds, Series
-- $ 700,000 Student Loan Refunding Revenue Bonds, Series XVII-D,
-- $31,110,000 Student Loan Revenue Bonds, Series XVII-E, 'AAA';
-- $22,025,000 Student Loan Refunding Revenue Bonds,
-- $30,000,000 Student Loan Revenue Bonds, Series XVII-G, 'AAA';
-- $441,800,000 Student Loan Revenue Bonds and Refunding Revenue
Bonds, Series XVII-H-1 through Series XVII-H-6, 'AAA';
The ratings are based on a note guaranty As a verb, to agree to be responsible for the payment of another's debt or the performance of another's duty, liability, or obligation if that person does not perform as he or she is legally obligated to do; to assume the responsibility of a guarantor; to warrant. insurance policy provided by Ambac Assurance Corporation Ambac Assurance Corporation
A subsidiary of publicly traded Ambac Financial Group that provides financial guarantees for municipal borrowers and for asset-backed and structured issues. , whose insurer financial strength is rated 'AAA' by Fitch. The rating addresses the timely payment of interest and ultimate payment of principal in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.
As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with the terms of the security. The rating also reflects the collateral quality and the financial and legal structure.