The rating upgrade on Colorado Housing Finance Authority's (CHFA) series 1999A bonds and the multifamily housing insured mortgage revenue bonds general bond 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 1999A cash flows demonstrating sufficient revenues to cover all debt service payments and expenses, Mortgage loan insurance for the 1999A bonds under sections 542(c) and 221(d)(4) 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 1999A issue, totaling about $31.735
