Standard&Poor's Ratings Services removed its ratings on the Colorado Housing&Finance Authority's (CHFA) Class I bonds, series 2008 A-2 and A-3 under CHFA's single-family mortgage bond indenture, from CreditWatch and affirmed the 'AAA' ratings. The outlook is stable. The ratings reflect our opinion of: Substantial overcollateralization, which exceeds 114% on the senior Class I bonds; The very strong credit quality of the Federal Housing Authority (FHA)-insured, conventionally insured, other insured, and uninsured mortgage loans backing the bonds; Sufficiency of reserves to cover potential credit and liquidity shortfalls; and High-quality investments. Partly offsetting these strengths, in our view, is the loan portfolio, which has high delinquency. For more information on this bond program, please see the analysis published
