Standard&Poor's Ratings Services affirmed its 'AA' rating on Colorado Housing and Finance Authority's (CHFA) single-family program senior bonds, series 2001A (the issue). The outlook is stable. This rating reflects our view of: A strong asset-to-liability parity position that is sufficient even under high-stress scenarios, Fully funded reserves, ensuring adequate liquidity, The high-quality investments supporting the rating on the bonds, and A high percentage of federally insured loans. These strengths are offset in part by our view of the issue's relatively high delinquency and foreclosure rates. Nearly 12% of the issue's collateral is composed of loans either delinquent 60 or more days or subject to foreclosure. This percentage is significantly higher than the approximately 7% we would expect to
