Standard&Poor's Ratings Services assigned its 'AAA' rating to Colorado Housing&Finance Authority's (CHFA) single-family mortgage class I 2015 series B bonds. In addition, Standard&Poor's affirmed all ratings on class I bonds and class II bonds within the indenture. The outlook on all ratings is stable, where applicable. The ratings reflect our opinion of the: Substantial overcollateralization that exceeds 120% on the senior class I bonds and 111% on the class II bonds; Very strong credit quality of the Federal Housing Authority (FHA)-insured, conventionally insured, other insured, and uninsured mortgage loans backing the bonds; Sufficiency of reserves to cover potential credit and liquidity shortfalls; and High-quality investments. Partly offsetting these strengths is our view of a
