SAN FRANCISCO (Standard&Poor's CreditWire) Dec. 10, 1999--Standard&Poor's today affirmed its triple-`A' rating on Maricopa County Industrial Development Authority, Ariz.'s $6.2 million FHA-insured taxable multifamily revenue refunding bonds series 1997B and $19.8 million GNMA-collaterlized multifamily housing revenue refunding bonds series 1997A, issued for the Tempe Grove Apartments project. The rating is affirmed following the extension of the anticipated delivery date of the GNMA Permanent Loan Certificate (PLC) from Dec. 15, 1999, to June 30, 2000. The GNMA PLC will serve as security for the bonds by guaranteeing monthly payments of principal and interest on the underlying FHA-insured mortgage. The PLC will be delivered to the trustee in exchange for GNMA construction loan certificates (CLCs), which have secured
