Standard&Poor's Ratings Services affirmed its 'AAA/A-1+' ratings on Colorado Housing and Finance Authority's class I adjustable rate single-family mortgage bonds, series 2003 B-2, 2003 B-3, and 2003 C-1. The 'AAA' long-term rating reflects the substantial over-collateralization, exceeding 114%, on the senior class I bonds, and the extremely strong credit quality of the loans supporting the bonds. The 'A-1+' short-term rating on the series 2003 B-2 and 2003 C-1 bonds reflects liquidity for tenders provided by two existing standby bond purchase agreements (SBPAs) from JPMorgan Chase Bank N.A. (AA/Negative/A-1+ ). The 'A-1+' short-term rating on the series 2003 B-3 bonds reflects liquidity for tenders provided by a new SBPA from Federal Home Loan Bank of Topeka (AAA/Stable /A-1+). All
