NEW YORK (Standard&Poor's CreditWire) Aug. 30, 1999--Standard&Poor's today assigned its triple-'B'-minus rating on Colorado Educational&Cultural Facilities Authority's $3.65 million charter school revenue bonds series 1999, issued Renaissance Charter School. The bonds are scheduled to sell Sept. 14, 1999. The bonds are secured by charter school lease payments, subject to annual appropriation. The rating reflects: -- A strong and positive environment for charter schools in Colorado, as demonstrated through a supportive legal framework and stable financial arrangements; -- A positive relationship between the school and its sponsor district, the Douglas County School District No. Re-1; -- A successful renewal of the district's initial charter through 2004; -- Positive financial performance and a covenant to maintain
