NY -- Standard&Poor's CreditWire 1/21/98 -- Standard&Poor's assigned its triple-'A'/'A-1'-plus rating to Colorado Housing Finance Authority's multifamily refunding revenue bonds (Winridge Project) series 1998 issued for Winridge Apartments.. The triple-'A' rating reflects a FNMA collateral agreement for full and timely payment of principal and interest on the mortgage backing the bonds. The 'A-1+' rating reflects FNMA's obligation under the agreement to pay the purchase price of tendered bonds. Investments held under the trust indenture are triple-'A' eligible. FNMA receives implied U.S. government support for payments made under the collateral agreement, and therefore qualifies as triple-'A' eligible under Standard&Poor's rating criteria. FNMA primarily pledges to cover missed mortgage payments which occur prior to bond payment
