S&P Global Ratings revised the outlook on revenue bonds issued by the New Mexico Mortgage Finance Authority (series 2005E&F Sun Pointe Park Apartments) to negative from stable, following the outlook revision on Caisse des Depots et Consignations (CDC), the bonds' guaranteed investment contract (GIC) provider, to negative from stable. At the same time, S&P Global Ratings affirmed its 'AA' long-term rating on the bonds. The outlook revision on the bonds is based upon the revision of the outlook on CDC as GIC provider. The New Mexico Mortgage Finance Authority's series 2005E&F bonds are secured by a pledge of payments under the mortgage which is insured by Federal Housing Administration (FHA) pursuant to the FHA/Housing Finance Agency 542 Risk Sharing Program.
