Research Update: Colorado Housing&Finance Authority 2026 Series A-1 And A-2 Class I Multifamily Project Bonds Rated 'AAA'

S&P Global Ratings assigned its 'AAA' long-term rating to the Colorado Housing&Finance Authority 's (CHFA) 2026 series A-1 class I multifamily project bonds (MFPBs) of approximately $7.4 million and 2026 series A-2 class I MFPBs of $8.4 million. At the same time, we affirmed our 'AAA', 'AA+', and ?AA? long-term ratings on CHFA's class I, class II, and class III 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 1, 2000, as amended, are secured by and payable from all the authority's rights to, and interest in, the

...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 ...

Research Update