...S&P Global Ratings affirmed its 'A+' issuer credit rating (ICR) on Colorado Housing & Finance Authority (CHFA or the authority). The outlook is stable. The rating reflects our view of the following: + A well-capitalized organization as evidenced by the authority's growing S&P-calculated equity (audited net position adjusted to remove changes in fair value) year-over-year (y/y) for the last five fiscal periods, reaching $525.7 million in 2019, a 62.5% increase from $323.6 million in 2015; + Low-risk and high quality asset base consisting primarily of government-enhanced mortgage backed securities (MBS) and investments consistent with the authority's conservative and prudent investment policy which is reviewed and updated regularly; + Active programs consisting of increasing loan portfolios, reaching a total of approximately $1.3 billion in loans in fiscal 2019, up 3.8% from fiscal 2018 indicating continual investment in Colorado's affordable housing and community development ¡ a primary...
