The 'AAA' rating on White Bear Lake, Minn.'s multifamily housing mortgage revenue refunding bonds (Renova Partners) series 2001 has been affirmed. The bonds are secured by Fannie Mae pass-through certificates. 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, Investments held in Wells Fargo Treasury money market fund rated 'AAAm', and An asset-to-liability ratio of 101.31% as of March 15, 2005. The rating reflects the strong credit quality of the assets and credit support underlying the issue. The assets consist of Fannie Mae Guaranteed pass-through certificates, which are 'AAA' eligible under Standard&Poor's Ratings Services rating criteria. All funds are
