S&P Global Ratings affirmed its 'AAA' and 'AA' long-term ratings on the Colorado Housing&Finance Authority's single-family mortgage bond master indenture class I and class II bonds, respectively. The outlook is stable. The ratings reflect our view of the authority's master indenture, which includes the new issuance of its single-family mortgage program's 2017 series F class I bonds, though we did not rate this individual series. The ratings reflect our opinion of the indenture's following strengths: Substantial overcollateralization at nearly 120% on the class I bonds and 110% on the class II bonds; A loan portfolio of very strong credit quality, with more than 72% of loans guaranteed by the U.S. government, and private mortgage insurance on 9.4%, while
