S&P Global Ratings affirmed its 'AA+' long-term rating on the Colorado Housing&Finance Authority's (CHFA) federally insured multifamily housing loan program pass-through revenue bonds, series 2013-I. The outlook is stable. The rating reflects our opinion of: The strength of the Federal Housing Administration (FHA) risk-share mortgage loans under the parity resolution; The sovereign rating on the U.S.; Sufficient reserves to cover credit shortfalls; Strong oversight of the resolution by CHFA; and A consolidated indenture asset-to-liability ratio of 105.6% as of April 1, 2020. The rating also reflects our view of the strong quality of the assets and the credit support underlying the issue. Under the pass-through structure of 2013-I, bondholders will receive pro rata disbursements from the trust estate
