Standard&Poor's Ratings Services affirmed its 'AAA/A-2' rating on Colorado Housing And Finance Authority's series 2005A-2 multifamily project adjustable rate bonds in anticipation of the substitution of a standby bond purchase agreement (SBPA) from Barclays Bank PLC (AA-/A-1+) for an SBPA from Dexia Credit Local (A-/A-2) on Nov. 23, 2011. At the same time, Standard&Poor's affirmed its 'AAA/A-2' rating on the authority's series 2003C-2 single-family mortgage class I adjustable rate bonds in anticipation of the substitution of a SBPA from the Royal Bank of Canada (AA-/A-1+) for an SBPA from Dexia Credit Local (A-/A-2) on Nov. 23, 2011. Both ratings remain on CreditWatch with negative implications. Once the SBPAs are substituted, the short-term ratings on the above-mentioned
