The 'AAA' rating on Portland , Ore.'s multifamily housing revenue bonds (Center Commons Project) series 1999 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 101.86% as of Sept. 30, 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. Investments are held pursuant to a guaranteed investment contract with CDC
