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MOODY'S ASSIGNS 'AA2' RATING TO THE MICHIGAN GUARANTY AGENCY

 NEW YORK, Nov. 23 ~PRNewswire~ -- Effective today, Moody's Investors Service assigned a 'Aa2' claims-paying rating to the Michigan Guaranty Agency, a student loan guarantee agency based in Lansing, Mich. It becomes the fourth guarantee agency to be assigned a Moody's rating. The credit quality of the existing portfolio and the continued quality of new guarantee volume, the low proprietary school exposure, favorable reserve levels, and the large degree of reserve liquidity were cited as primary credit considerations.
 Moody's also noted that "The Agency's capitalization levels are considered sufficient to meet its claims paying obligations under various assumed highly stressful scenarios." Management and operations are considered sound, and the agency has demonstrated the capacity to sustain claims processing. The institution of a guarantee fee as a source of additional revenue is not expected in the near future.
 -0- 11~23~92
 ~CONTACT: Peter Tommaney, vice president and manager, 212-553-4091, or Christopher Martin, assistant vice president and supervisor, 212-553-4836, both of Moody's Public Finance Department~


CO: Michigan Guaranty Agency ST: Michigan IN: SU: RTG

AH-OS -- NY076 -- 0722 11~23~92 16:19 EST
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Publication:PR Newswire
Date:Nov 23, 1992
Words:181
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