NY -- Standard&Poor's CreditWire 9/22/98 – Standard&Poor's today assigned its triple-'A' rating to Portland, Ore.'s multifamily housing revenue bonds (Collins Circle Apartments) series 1998 dated Oct. 1, 1998 due June 1, 2031. The bonds are scheduled to sell Oct. 10, 1998. The rating reflects: -- The Fannie Mae credit enhancement of the mortgage backing the bonds through a collateral agreement and mortgage-backed security (MBS) guarantee, -- Triple-'A' rated investments, and -- Cash flows evidencing the full and timely payment of debt service and program fees. Bond proceeds will be used to fund a $9.27 million mortgage that is backed by a Fannie Mae collateral agreement upon closing on the bonds. Fannie Mae pledges under the collateral
