SAN FRANCISCO (Standard&Poor's CreditWire) Dec. 20, 1999--Standard&Poor's today assigned its triple-`A'/`A-1'-plus rating to Washington State Housing Finance Commission's $6.6 million variable-rate demand multifamily housing revenue bonds series 1999A and the commission's $2.2 million taxable variable-rate demand multifamily housing revenue bonds series 1999B, both issued for the Holly Village Senior Living project. The bonds are scheduled to sell Dec. 23, 1999. The rating reflects the extremely strong credit enhancement of the mortgage backing the bonds through a Fannie Mae direct pay credit enhancement facility and triple'A' rated investments. Upon bond closing, Fannie Mae will provide a direct pay credit enhancement facility for bonds financing the property. The credit facility is direct pay as Fannie Mae will make
