Colorado Housing and Finance Authority Class I Bond Ratings Removed From CreditWatch; 'AAA' Ratings Affirmed Dec 11
- Language: English
- Published: December 2011
- Region: Colorado
Standard & Poor's Ratings Services removed its ratings on the Colorado Housing and Finance Authority's (CHFA) Class I bonds under its single-family mortgage bond indenture from CreditWatch with negative implications and affirmed the ratings at 'AAA'. The outlook is stable. The ratings reflect our opinion of: Substantial overcollateralization that exceeds 114% on the senior Class I bonds; Very strong credit quality of the Federal Housing Authority (FHA)-insured, conventionally insured, other insured, and uninsured mortgage loans backing the bonds; Sufficiency of reserves to cover potential credit and liquidity shortfalls; and High-quality investments. Partly offsetting these strengths is our view of a loan portfolio with high delinquency. Standard & Poor's also lowered the short-term rating to 'A-1' from 'A-1+' on the authority's...
Companies mentioned in this report are: Colorado Hsg & Fin Auth
Action: Outlook: Stable
Action: Removed From CreditWatch
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Colorado Hsg & Fin Auth