Fitch downgrades the long-term rating to 'A+' from 'AA-' and confirms the short-term 'F1+' rating for the Colorado Housing and Finance Authority as follows. --$2,940,000 tax-exempt variable rate demand economic development revenue bonds (Monaco I, LLC Project), series 2007A; --$1,040,000 ($690,000 currently outstanding) taxable variable rate demand economic development revenue bonds (Monaco I, LLC Project), series 2007B. The irrevocable, direct-pay letter of credit (LOC) issued by JPMorgan Chase Bank, N.A. supporting the bonds, was substituted with a LOC provided by UMB Bank, n.a. (currently rated 'A+/F1+'). On the substitution date of May 3, 2010, the bonds were subject to mandatory tender and
More...
More...