Standard&Poor's Ratings Services today reinstated its 'AAA/A-1+' ratings on Washington State Housing Finance Commission's taxable variable-rate demand multifamily housing revenue bonds (Holly Village Senior Living Project), series 1999AB. On Dec. 27, 2007, we withdrew the ratings on the bonds based on a redemption notice we received from the trustee. We subsequently learned that the entire series 1999A and a portion of the series 1999B bonds remain outstanding. The 'AAA' long-term portion of the rating reflects our view that, based on the credit quality of the assets, and the investment of funds, the issuer will have sufficient revenues to pay full and timely debt service on the bonds until maturity. The 'A-1+' short-term portion of the rating reflects our
