The rating on Colorado Housing and Finance Authority's (CHFA) class III bonds reflects CHFA's GO pledge as the primary security for the bonds in addition to the mortgage collateral. CHFA's issuer credit rating is based upon the following factors: Strong and stable authority management; High profitability and earnings, slightly offset by an adequate equity position; Good financial and asset management; Low GO debt exposure; and A strong, diversified, and growing state economy. CHFA provides financing for single-family mortgages, multifamily rental housing, and small business development loans. In addition, CHFA's multifamily asset management department monitors and maintains rental housing and commercial portfolios with a total value of more than $540 million. The authority's single-family mortgage revenue bond program provides funds for
