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

S&P Global Ratings assigned its 'AAA/A-1' rating to Colorado Housing&Finance Authority's (CHFA) class I 2019 series L-2 adjustable rate single-family mortgage bonds. The outlook is stable. The authority plans to issue class I (2019 series J, 2019 series K, and 2019 series L-3) and class II (2019 series L-1) fixed-rate single-family mortgage bonds, which we have rated separately. For more information about those series, see our report (published Oct. 10, 2019, on RatingsDirect). The 2019 series L-2 bonds are being issued as variable-rate demand obligations and will receive enhancement in the form of a standby bond purchase agreement (SBPA) from Bank of America N.A. The long-term component of the rating reflects CHFA's credit characteristics. The 'A-1' short-term component

...S&P Global Ratings assigned its '###/A-1' rating to Colorado Housing & Finance Authority's (CHFA) class I 2019 series L-2 adjustable rate single-family mortgage bonds. The outlook is stable. The authority plans to issue class I (2019 series J, 2019 series K, and 2019 series L-3) and class II (2019 series L-1) fixed-rate single-family mortgage bonds, which we have rated separately. For more information about those series, see our report (published Oct. 10, 2019, on RatingsDirect). The 2019 series L-2 bonds are being issued as variable-rate demand obligations and will receive enhancement in the form of a standby bond purchase agreement (SBPA) from Bank of America N.A. The long-term component of the rating reflects CHFA's credit characteristics. The 'A-1' short-term component of the rating reflects the liquidity facility in the form of a SBPA provided by Bank of America N.A., effective Nov. 20, 2019. The SBPA will cover principal and 187 days' interests at a maximum 12% annual rate for the...

Summary