Research Update: Colorado Housing And Finance Authority 2025 Series H-1 Multi-Family Project Bonds Assigned 'AAA' Rating; Outlook Stable

S&P Global Ratings assigned its 'AAA' long-term rating to the Colorado Housing&Finance Authority 's (CHFA) 2025 series H-1 class I multi-family project bonds (MFPBs; Denver Dry Goods), with an expected par of $9.1 million. At the same time, we assigned our 'AA' long-term rating to the authority?s 2025 series H-2 class III MFPBs, with an expected par of $27.62 million. At the same time, we affirmed our 'AAA' and 'AA+' long-term ratings on CHFA's class I and class II bonds, respectively, in addition to our 'AAA/A-1+' and 'AA+/A-1+' dual ratings on the authority's adjustable-rate class I and II bonds outstanding, respectively. The outlook, where applicable, is stable. Bonds issued under the MFPB master trust indenture (MTI), dated March

...Class I Class II Class III Legal framework No cap No cap No cap Program management and operational risk No cap No cap No cap Cash flow analysis Overcollateralization ### ### ## Stressed cash flows ### ### ### Hedging risk No cap No cap No cap HFA general obligation pledge N/A N/A ##- Anchor Anchor ### ### ## Modifiers and holistic analysis Liquidity reserves No modifier No modifier No modifier Market position No modifier No modifier No modifier Holistic analysis No modifier -1 notch No modifier Stand-alone credit profile SACP ### ##+ ## Other applicable criteria ### N/A N/A...

Research Update