Summary: Colorado Housing&Finance Authority; Single Family Multiple MBS; Single Family Whole Loan

S&P Global Ratings raised its long-term rating on the Colorado Housing&Finance Authority's (CHFA) single-family mortgage class II bonds to 'AA+' from 'AA'. At the same time, S&P Global Ratings assigned its 'AAA' long-term rating to CHFA's 2020 series A, 2020 series B, and 2020 series C-1 class I bonds, and its 'AAA/A-1+' dual rating to the authority's 2020 series C-2 class I adjustable-rate single-family mortgage bonds, secured by an open indenture and a liquidity facility from Royal Bank of Canada. Finally, we affirmed our 'AAA' and 'A+' long-term ratings on the indenture's outstanding class I and class III bonds, respectively, and affirmed the various short-term ratings under the indenture. Where applicable, the outlook is stable. The upgrade on

...S&P Global Ratings raised its long-term rating on the Colorado Housing & Finance Authority's (CHFA) single-family mortgage class II bonds to '##+' from '##'. At the same time, S&P Global Ratings assigned its '###' long-term rating to CHFA's 2020 series A, 2020 series B, and 2020 series C-1 class I bonds, and its '###/A-1+' dual rating to the authority's 2020 series C-2 class I adjustable-rate single-family mortgage bonds, secured by an open indenture and a liquidity facility from Royal Bank of Canada. Finally, we affirmed our '###' and 'A+' long-term ratings on the indenture's outstanding class I and class III bonds, respectively, and affirmed the various short-term ratings under the indenture. Where applicable, the outlook is stable. The upgrade on the class II bonds reflects our view of both CHFA's shift, during the last year, to a portfolio consisting of predominantly mortgage-backed securities (MBS) that benefit from full credit enhancement via a guarantee or insurance from U.S. federal...

Summary