The rating on Colorado Housing and Finance Authority's series 1999B bonds and the general resolution reflects: * The strength of the FHA-insured mortgage loans under the parity resolution, as evidenced by the strong performance of the consolidated cash flows; * Stand-alone 1999B cash flows demonstrating sufficient revenues to cover all debt service payments and expenses; * Mortgage loan insurance for the 1999B bonds under sections 542(c) of the National Housing Act pledged as security for the mortgage loans; * Sufficient reserve levels to cover credit and liquidity shortfalls in the general resolution; * High credit quality of investments; and * Strong oversight of the resolution by CHFA. Bond proceeds from the 1999B issue, totaling approximately $6 million, will be used
