S&P Global Ratings affirmed its ratings on Colorado Housing&Finance Authority's (CHFA) Class I and Class II bonds, respectively, outstanding under the multifamily/project resolution. The outlook is stable. The ratings are based on our affordable multifamily housing criteria published June 19, 2014. More specifically, the ratings reflect our view of: CHFA's very strong strategy and management of the resolution; Extremely high loss coverage, based on the resolution's very strong overcollateralization; Extremely strong performance of the loans within the bond program; The resolution's solid financial performance; and Extremely strong ongoing governmental support in the form of low-income housing tax credits (LIHTCs), Federal Housing Administration (FHA) mortgage insurance, Section 8 rental subsidies, property tax exemptions, and tax-exempt bond financing. According to
