Standard&Poor's Ratings Services revised its outlook to stable from negative and affirmed its 'AA+/A-1+' rating on Colorado Housing Finance Authority's (CHFA) series 2002AA bonds. The revised outlook reflects that of the bond program. At the same time, Standard&Poor's affirmed its 'AA+' long-term and underlying rating (SPUR) on CHFA's multifamily housing insured mortgage revenue bonds, series 1996A through 2002AA. The affirmed ratings are in anticipation of $5 million withdrawal from the trust estate in October 2011. The rating reflects our view of: The strength of the Federal Housing Authority (FHA)-insured and FHA risk-share mortgage loans under the parity resolution, as evidenced by the strong performance of the consolidated cash flows; The sovereign rating on the United States;
