Standard&Poor's Ratings Services affirmed its 'AA+' rating on New Mexico Mortgage Finance Authority's (Sun Pointe Park L.P.) series 2005E and 2005F multifamily housing revenue bonds (Sun Pointe Park Apartments). A mortgage loan insured by FHA under section 524(c) Risk Share Program of the Housing and Community Development Act of 1992 secures the bonds. The outlook is negative. The rating on the bonds reflects: The high credit quality of the FHA-insured mortgage loan collateral, which we consider 'AA+' eligible under our rating criteria; Sufficiency of assets and revenues to pay debt service and expenses; A debt service reserve fund sized at six-months' debt service on the bonds; Investments held in IXIS Funding, which is guaranteed by Caisse des Depots
