S&P Global Ratings affirmed its 'AAA' and 'AA+' long-term ratings on Colorado Housing&Finance Authority's (CHFA or the authority) outstanding class I and class II single-family mortgage bonds, respectively, issued under the authority's single-family mortgage bond (SFMB) master indenture of trust dated Oct. 1, 2001. At the same time, we affirmed the various short-term ratings outstanding under the indenture. The long-term ratings reflect the following credit strengths: Substantial overcollateralization in the indenture as evidenced by class I, II, and III asset-to-liability parities of 123.6, 113.1, and 108.9, respectively, according to the authority's Feb. 1, 2020 disclosure report; High quality assets of the indenture comprised of mortgage-backed securities (MBS) (63%), single family whole loans (25%) and low-risk investments (12%); Very
