Standard&Poor's Ratings Services assigned its 'AA+' rating to the Colorado Housing and Finance Authority's (CHFA) federally insured multifamily housing loan program passthrough revenue bonds, series 2013-I. The outlook is negative. The issue is the first under a new open indenture. The rating reflects our opinion of: The strength of the Federal Housing Administration (FHA) risk-share mortgage loans under the parity resolution, as evidenced by the strong performance of the cash flows; The sovereign rating on the U.S.; Sufficient reserve levels to cover credit and liquidity shortfalls; and Strong oversight of the resolution by CHFA. The subject resolution will be backed by 10 multifamily mortgages insured under the FHA risk-share program. The loans currently reside within the authority's multifamily
