SAN FRANCISCO (Standard&Poor's) June 23, 2009--Standard&Poor's Ratings Services raised its rating to 'AAA/A-1+' from 'AAA/A-2' on the Colorado Housing and Finance Authority's class I adjustable-rate single-family mortgage bonds, series 2006 C-2 and 2007 A-2, following the substitution of a standby bond purchase agreement (SBPA) from the Federal Home Loan Bank of Topeka ('A-1+' short-term) for Depfa Bank ('A-2' short-term) on June 24, 2009. The SPBA will cover all three series for 100% of principal and interest for 184 days. The SBPA expires on June 24, 2014, unless terminated earlier according to its terms. The only automatic termination event without notice is for the downgrade of the long-term rating of the bonds, currently 'AAA', to below 'BBB-'.
