Standard&Poor's Ratings Services affirmed its 'AA+' rating, and its 'AA+' underlying rating (SPUR) on the Colorado Housing Finance Authority's (CHFA) multifamily housing insured mortgage revenue bonds, series 1996A through 2002AA. The rating reflects: The strength of the FHA-insured and FHA risk-share mortgage loans under the parity resolution, as evidenced by the strong performance of the consolidated cash flows; Consolidated cash flows demonstrating sufficient revenues to cover all debt service payments and expenses; Sufficient reserve levels to cover credit and liquidity shortfalls; High credit quality of investments; and Strong oversight of the resolution by CHFA. Bond proceeds from the upcoming series 2007B multifamily project bond issue of approximately $6.4 million will be used to refund portions of the series
