SAN FRANCISCO (Standard&Poor's CreditWire) Dec. 21, 1999--Standard&Poor's today affirmed its triple-`A' rating on Washington State Housing Finance Commission's $8.09 million multifamily mortgage refunding FNMA collateralized taxable bonds series 1990A and 1990B. Additionally, Standard&Poor's withdrew its ratings on the commission's multifamily mortgage revenue FNMA MBS program bonds series 1985E and multifamily mortgage revenue refunding bonds series 1988A. The rating on the series 1990A and 1990B bonds is affirmed based on: -- The strength of the Fannie Mae collateral agreement backing the bonds; -- Investments commensurate with the rating; and -- Asset-to-liability parity above 100%. The withdrawal of the rating on the series 1985E and 1988A bonds reflects the fact that both series have been defeased.
