Standard&Poor's Ratings Services affirmed its 'AAA' rating on Washington State Housing Finance Commission's multifamily housing revenue bonds, series 2000, issued for the Evergreen Village Apartments Project, based on the following factors: Extremely strong credit quality of the GNMA permanent loan certificate (PLC); Investments commensurate with an 'AAA' rating; The sufficiency of revenues to pay fees and debt service on all bonds until final maturity; and An asset-to-liability ratio of 101.7% as of Oct. 15, 2005. The rating reflects the strong credit quality of the Ginnie Mae PLC, which guarantees timely payment of principal and interest on the bonds. The securities are backed by the full faith and credit of the U.S. government and therefore qualify as 'AAA' eligible
