NEW YORK (Standard&Poor's CreditWire) April 26, 1999-- Standard&Poor's today assigned its double-'A' rating to Colorado Springs, Colo.'s $88 million sales and use tax revenue bonds series 1999 dated May 15, 1999, due Dec. 1, 2015. The bonds are scheduled to sell April 30, 1999. The bonds are secured by the city's pledge of its 2% sales and use tax to repay debt service. The rating reflects: -- The city's strong general creditworthiness (double-'A' GO debt rating); -- A strong and diverse sales tax base; -- Solid legal provisions, including a historical additional bonds test requiring 2 times (x) coverage of future maximum annual debt service (MADS); and -- Strong coverage of future MADS. Colorado Springs, Colo.
