Standard&Poor's Ratings Services affirmed the 'A-1' short-term component of its rating on the Colorado Housing and Finance Authority's Class I 2007B-1, 2007B-2, and 2007B-3 bonds (AAA/A-1) under its multifamily project bond indenture to reflect the substitution of standby bond purchase agreements (SBPAs) from JPMorgan Chase Bank ('A-1' short-term rating) for Credit Agricole ('A-1' short-term rating) liquidity facilities on June 27, 2012. The outlook is stable. The 'AAA' long-term component of the rating is based on our view of the extremely high overcollateralization on the Class I bonds and the very strong quality of the Federal Housing Authority (FHA)-insured and other loan insurance and guarantees, along with investments held within the trust estate. For more information on the long-term
