Summary: Colorado Housing and Finance Authority; Multifamily Whole Loan Jun 12

Standard & Poors, June 2012

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' long-term rating to the Colorado Housing and Finance Authority's (CHFA) series 2012 A Class I multifamily project bonds. Standard & Poor's also affirmed its 'AAA' long-term rating on the previously issued Class I bonds and its 'AA' long-term rating on the previously issued Class II bonds under the bond resolution. The outlook on all ratings is stable. The ratings on the Class I and Class II bonds are based on our view of CHFA's: Extremely strong overcollateralization on the Class I bonds and very strong overcollateralization that exceeds 162% on the Class II bonds and 110% on the Class I and Class II bonds; High credit quality, based on 448 first mortgage...

Companies mentioned in this report are:
- Colorado Hsg & Fin Auth

Action: Affirmed
Action: New Rating
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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