Research Update: Colorado Housing&Finance Authority Series 2026A And Series 2026B-1 Class I Single-Family Mortgage Bonds Rated 'AAA'

S&P Global Ratings assigned its 'AAA' long-term rating to the Colorado Housing and Finance Authority 's (CHFA) class I 2026 series A (non-AMT social bonds) single family mortgage bonds (SFMBs) with an expected par amount of $64.5 million, and class I 2026 series B-1 (federally taxable social bonds) SFMBs with an expected par amount of $58.5 million. We also affirmed our 'AAA', 'AA+', and 'AA' long-term ratings on the authority's class I, class II, and class III bonds, respectively, as well as our various dual ratings ('AAA/A-1+' and 'AAA/A-1' for class I, and 'AA+/A-1+' and 'AA+/A-1' for class II) on bonds outstanding under the SFMB indenture. The outlook, where applicable, is stable. Bonds issued within the SFMB program, including the

...MRB program rating summary 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