The ratings on Colorado Housing and Finance Authority's class I, class II, and class III bonds are affirmed in anticipation of the transfer of up to $60 million in prepayments under the single-family mortgage bond resolution to the mortgage recycling fund. The authority has made reservations for $45 million in mortgages for which it will transfer prepayment receipts for the origination of the loans. Approximately $15 million in additional mortgages will be reserved before May 2003. Cash flows illustrate the ability of the resolution to withstand stresses in various scenarios and maintain asset/parity levels of 108% on both the 'AAA' senior and 'AA' mezzanine bonds. The stable outlook on the Class I and II bonds reflects the anticipated ability of
