The rating on Colorado Housing Finance Authority's series 1998B bonds reflects the strength of the FHA insured mortgage loans as evidenced by the strong performance of the consolidated cash flows, sufficient reserve levels, good investments, and strong oversight of the resolution by the authority. The positive outlook reflects the expected continuation of financial strength for the resolution. The series 1998B bonds are on parity with all series under the multifamily housing insured mortgage revenue bonds resolution. All series are equally and ratably secured. Bond proceeds of about $7.405 million will be used in conjunction with acquisition proceeds from series 1997B bonds to acquire two mortgages insured under 542(c) and 221 (d) (4) of the National Housing Act for the construction
