Rating Action: Moody's assigns Aaa to University of Michigan, MI's general revenue bonds; outlook stableGlobal Credit Research - 01 Mar 2022New York, March 01, 2022 -- Moody's Investors Service has assigned a Aaa to University of Michigan, MI's proposed up to $1.7 billion of General Revenue Bonds, Series 2022A (Taxable), approximately $300 million of General Revenue Bonds, Series 2022B (Taxable) (Green Bonds), approximately $583 million of General Revenue Bonds, Series 2022C (Taxable) and approximately $55 million of General Revenue Bonds, Series 2022D. Moody's has also affirmed the issuer and outstanding Aaa, Aaa/VMIG 1 and P-1 ratings. The Series 2022A bonds are expected to have final maturity dates up to 2122 while the remaining bonds are expected to have various final maturity dates through 2052. The university had approximately $3.2 billion of total debt outstanding as of June 30, 2021.