Standard&Poor's Ratings Services lowered the short-term component of its rating on the Colorado Housing and Finance Authority's class insured multifamily housing insured mortgage revenue bonds (AA+/A-1) to 'A-1' from 'A-1+' to reflect the substitution of a standby bond purchase agreement (SBPA) from JPMorgan Chase Bank N.A. ('A-1' short-term rating) for a temporary credit and liquidity facility from Fannie Mae and Freddie Mac with the implied support of the United States of America ('A-1+' short-term rating) on Oct. 10, 2012. The 'AA+' long-term component of the rating is based on our view of the bonds' very high overcollateralization, the loans' exceptional performance, the Federal Housing Authority (FHA) insurance's very strong quality, and investments held within the trust estate. As
