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

S&P Global Ratings assigned its 'AAA' long-term rating to the Colorado Housing&Finance Authority's (CHFA) 2019 series J, 2019 series K, and 2019 series L-3 class I bonds, and its 'AA' long-term rating to CHFA's 2019 series L-1 class II bonds. In addition, CHFA plans to issue class I 2019 series L-2 adjustable rate single-family mortgage bonds, secured by an open indenture and a liquidity facility from Bank of America N.A., which we will rate separately from this transaction. Finally, we affirmed our 'AAA', 'AA', and 'A+' long-term ratings and various short-term ratings on all existing class I, class II, and class III bonds, respectively, under the indenture. Where applicable, the outlook is stable. The ratings reflect our opinion

...S&P Global Ratings assigned its '###' long-term rating to the Colorado Housing & Finance Authority's (CHFA) 2019 series J, 2019 series K, and 2019 series L-3 class I bonds, and its '##' long-term rating to CHFA's 2019 series L-1 class II bonds. In addition, CHFA plans to issue class I 2019 series L-2 adjustable rate single-family mortgage bonds, secured by an open indenture and a liquidity facility from Bank of America N.A., which we will rate separately from this transaction. Finally, we affirmed our '###', '##', and 'A+' long-term ratings and various short-term ratings on all existing class I, class II, and class III bonds, respectively, under the indenture. Where applicable, the outlook is stable. The ratings reflect our opinion of the indenture's following strengths: + Substantial overcollateralization, as evidenced by class I, II, and III asset-to-liability parities of 121.5%, 113.1%, and 108.6%, respectively, according to the authority's Aug. 1, 2019 disclosure report; + A loan portfolio...

Summary