Standard&Poor's Ratings Services affirmed its 'AA' rating on New Mexico Mortgage Finance Authority's (Sun Pointe Park Apartments) series 2005E and 2005F multifamily housing revenue bonds, issued for Sun Pointe Park LP. The outlook is negative. A mortgage loan insured by the Federal Housing Administration (FHA) under Section 542(c) of the Housing and Community Development Act of 1992, relating to the FHA's risk-sharing program, secures the bonds. The rating reflects our view of: The very strong credit quality of the FHA-insured mortgage loan collateral, which we consider 'AA+' eligible under our rating criteria; The sufficiency of revenues from mortgage debt service payments and investment earnings to pay full and timely debt service on the bonds until maturity; A debt
