Standard&Poor's Ratings Services raised the short-term component of its rating on the Colorado Housing and Finance Authority's single-family mortgage Class I bonds series 2004A-2, 2004B-2, 2005A-1, 2005A-2, and 2007B-2 to 'A-1+' from 'A-1'. The rating action reflects the substitution of separate standby bond purchase agreements (SBPA) from the Royal Bank of Canada (AA-/A-1+) for SBPAs from Dexia Credit Local (A/A-1) providing liquidity for the bonds on Oct. 12, 2011. The new SBPAs will expire on Oct. 12, 2014, unless they are terminated earlier in accordance with their terms. The SBPAs will provide liquidity in the event of a failed remarketing for all listed bonds at the maximum rate of 10% for tax-exempt bonds or 12% for taxable bonds
