Standard&Poor's Ratings Services assigned its 'AA+' rating to the Wyoming Community Development Authority's (WCDA) housing revenue bonds, 2010 series 1 and 2. Additionally, Standard&Poor's affirmed its 'AA+' rating and underlying rating (SPUR) on the bonds previously issued under WCDA's 1994 parity indenture. The 'AA+' long-term rating is based on our view of the following strengths of the 1994 indenture: The strong credit quality of the mortgage loan collateral; The strength of the cash flow runs, with asset-to-liability (AL) parity of 110.51% as of July 1, 2009; The very strong reserve levels that are sized in accordance with Standard&Poor's 'AA+' rating level minimums to provide protection for potential loan losses; The high credit quality of
