Standard&Poor's Ratings Services affirmed its 'AA+/A-1+' rating on Colorado Housing&Finance Authority's multifamily revenue refunding bonds (Winridge Project) series 1998. The outlook is negative. The bonds are backed by a mortgage loan that is secured by a Fannie Mae collateral agreement. The 'AA+' long-term component of the rating reflects our opinion of the likelihood that bondholders will receive payments of debt service. The 'A-1+' short-term component of the rating reflects our opinion of the likelihood of payment for ongoing optional and mandatory tenders. The rating continues to reflect our view of: The high credit quality of the Fannie Mae collateral agreement, which we consider to be 'AA+' eligible; The sufficiency of revenues from mortgage debt service payments
