S&P Global Ratings revised the outlook to negative from stable and affirmed its 'AA-' long-term rating on the New Mexico Mortgage Finance Authority's series 2005E revenue bonds, issued for Sun Pointe Park L.P.'s Sun Pointe Park apartments. The outlook revision reflects that on Caisse des Depots et Consignations (CDC), the guaranteed investment contract (GIC) provider, because the CDC rating caps that on the series 2005E bonds. Payments under the mortgage, insured by the Federal Housing Administration (FHA) pursuant to the FHA/Housing Finance Agency 542 risk-sharing program, secure the series 2005E bonds. The rating reflects our opinion of the bonds': Revenue sufficiency from mortgage debt service payments and investment earnings to make full and timely debt service payments on the bonds
