NEW YORK (Standard&Poor's) May 3, 2010--Standard&Poor's Ratings Services today raised its rating on Washington State Housing Finance Commission?s $12 million variable-rate demand nonprofit revenue and refunding revenue bonds series 2004 (for the Hearthstone project) due Dec. 1, 2029, to 'AA/A-1+' from 'A+/A-1'. The 'AA' long-term component of our rating on the series 2004 bonds is based on our long-term issuer credit rating on Wells Fargo Bank N.A. ('AA'), and addresses the full and timely payment of regularly scheduled interest and principal according to the transaction's terms. The 'A-1+' short-term component of our rating on the bonds is based on our short-term issuer credit rating on Wells Fargo Bank ('A-1+'), and addresses the full and timely payment
