Standard&Poor's Ratings Services affirmed its 'A' rating on Colorado Housing and Finance Authority's taxable GO housing bonds, series 1992A. The rating is based on the moral obligation of the state. The moral obligation rating is typically two notches below the state's lease rating, which is currently 'AA-/Stable'. The state's lease rating reflects the state's general credit characteristics, which include: A diversified and growing economy, Above-average wealth and income levels, A very low debt burden, Constitutional revenue limits imposed under the state's taxpayer bill of rights (TABOR) voter initiative, and Historically low general fund balances. The debt service reserve fund is fully funded at maximum annual debt service and is invested in a business loan from the Quality Agricultural
