The 'AAA' rating on Burnsville, Minn.'s multifamily housing revenue refunding bonds (FHA-insured mortgage loan--Summit Park Apartments Project) series 1993 has been affirmed. The bonds are secured by a mortgage loan, which is insured under section 223(f) of the National Housing Act. The rating continues to reflect: The credit quality of the FHA insured mortgage loan collateral; Sufficiency of assets and revenues to pay debt service and expenses; An asset-to-liability ratio of 108.74% as of May 8, 2006; and Extremely strong investment quality. The bonds were issued to finance the construction of 336 rental apartment units for low-income multifamily housing, which is located in Burnsville, Minn. The bonds are secured by a mortgage loan, which is insured by FHA under section
