The 'AAA' rating on Portland, Ore.'s multifamily housing revenue bonds (Yards At Union Station Phase B Project) series 1998 has been affirmed. The bonds are secured by a Fannie Mae pass-through certificate. Other rating factors include: The sufficiency of revenues from mortgage debt service payments and investment earnings to pay full and timely debt service on the bonds until maturity, Extremely strong investment quality, and An asset-to-liability ratio of 101.60% as of May 31, 2006. The rating reflects the strong credit quality of the assets and credit support underlying the issue. The assets consist of a Fannie Mae pass-through certificate, which is 'AAA' eligible under Standard&Poor's Ratings Services rating criteria. All investments are held in Wells Fargo Advantage
