The 'AA' rating assigned to Colorado Housing and Finance Authority's (CHFA's) class II series 2007 A-1 bonds and the affirmed 'AAA' and 'AA' ratings on CHFA's existing class I and class II bonds reflect: The high credit quality of the more than 400 existing first mortgage loans for affordable housing and businesses in Colorado, Strong overcollateralization, and Adequately funded reserves. The 'A+' rating on CHFA's class III series 2007 A-2 bonds reflects CHFA's GO pledge. The series 2007A bonds will be issued in two of four tranches established under CHFA's 2000 multifamily project bond master indenture. The only assets being added to the loan pool for series 2007A consist of taxable housing revenue bonds issued by Air Force Academy Military
