Summary: Colorado Housing&Finance Authority; Multifamily Whole Loan

S&P Global Ratings affirmed its 'AAA' and 'AA+' long-term ratings on Colorado Housing&Finance Authority's (CHFA) Class I and Class II bonds, respectively, and various short-term ratings outstanding under the multifamily/project resolution. The outlook, where applicable, is stable. The ratings reflect our view of the authority's master indenture dated March 1, 2000, in light of the new 2019 series A Class I bonds issued under it, although we did not rate the new series. The rating further reflects our view of: CHFA's experienced, proactive, and qualified senior management and very strong oversight of the resolution; Extremely high loss coverage, based on the resolution's very strong overcollateralization as evidenced by asset to liability parities after adjusting for S&P calculated losses

...S&P Global Ratings affirmed its '###' and '##+' long-term ratings on Colorado Housing & Finance Authority's (CHFA) Class I and Class II bonds, respectively, and various short-term ratings outstanding under the multifamily/project resolution. The outlook, where applicable, is stable. The ratings reflect our view of the authority's master indenture dated March 1, 2000, in light of the new 2019 series A Class I bonds issued under it, although we did not rate the new series. The rating further reflects our view of: + CHFA's experienced, proactive, and qualified senior management and very strong oversight of the resolution; + Extremely high loss coverage, based on the resolution's very strong overcollateralization as evidenced by asset to liability parities after adjusting for S&P calculated losses commensurate with the '###' and '##+' ratings for the class I and class II bonds, respectively; + Extremely strong performance of the loans within the bond program with only one loan delinquent 60...

Summary