Standard&Poor's Ratings Services affirmed its 'AAA' rating on Maricopa County Industrial Development Authority, Ariz.' series 2001A-1 and 2001A-2 multifamily housing revenue refunding bonds, issued for the Pine Ridge, Cambridge Court on 44th and Fountain Place Apartments. The rating reflects our view of the following: Assets consisting of 'AAA' rated investments under Standard&Poor's rating criteria; The sufficiency of invested amounts, assuming no earnings, to repay the bonds in full, plus fees and bond premium; and Investments held pursuant to a guaranteed investment contract with CDC Funding Corp., rated 'AAA', and First American Treasury Obligations Fund Class D, rated 'AAAm'. In March 2011, the issuer approved the sale of the GNMA security and the optional redemption of all
