Summary: Colorado Housing and Finance Authority; Multifamily Whole Loan Dec 10

Standard & Poors, December 2010

Abstract
Standard & Poor's Ratings Services affirmed its 'AAA' long-term rating on the Colorado Housing and Finance Authority's (CHFA) Class I multifamily project bonds and its 'AA' long-term rating on CHFA's Class II multifamily project bonds. The ratings are based on our view of CHFA's: High credit quality, based on 480 first mortgage loans for affordable multifamily properties and businesses in Colorado; Sufficient overcollateralization to maintain the ratings through bond maturity; Strong historical oversight and asset management of the properties in its portfolio; and Debt service reserve funded at a minimum of eight months of maximum loan principal and interest on all insured loans, and 12 months of principal and interest on uninsured loans. The bond program included 480 loans as...

Companies mentioned in this report are: Colorado Hsg & Fin Auth
Action: Affirmed
Action: Outlook: Stable

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Colorado Hsg & Fin Auth

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