The 'A' rating on Maricopa County Industrial Development Authority (Coral Pointe Apartments), Ariz.'s multifamily housing revenue bonds series 1998A and 1998B reflects: Release of the St. Andrews Apartments as collateral for the bonds, based on the sale of the property; An investment agreement generating $480,000 per year from an 'A' rated provider; First mortgage lien on the property; and Strong ownership by an affiliate of America First Co. The bonds were secured by a first mortgage lien on two multifamily developments. The Coral Pointe Apartments, located in the North Mesa submarket of Phoenix, Ariz. and St. Andrews apartments, located in the south Orlando submarket of Orlando, Fla. The St. Andrews apartments served as additional collateral for the bonds, but will
