...July 17, 2020 CENTENNIAL (S&P Global Ratings) July 17, 2020--S&P Global Ratings assigned its '##+' rating to the city of Colorado Springs, Colo.'s utilities system revenue refunding bonds series 2020A and 2020B, and its utilities system improvement revenue bonds series 2020C. At the same time, S&P Global Ratings affirmed its '##+', '##+/A-1+', and '##+/A-1' ratings on the system's parity debt outstanding. The outlook is stable. "The rating reflects our view of CSU's extremely strong fixed-charge coverage, diverse customer base, and its decision to eliminate its coal exposure by closing Drake Units 6 and 7 by 2023 and its Nixon Unit 1 by 2030," said S&P Global Ratings credit analyst Doug Snider. In our opinion, the system's robust liquidity and coverage metrics provide flexibility and a cushion to mitigate potential short-term disruptions as a result of COVID-19 and the related recession. Overall, we think the system mitigates most environment, social, and governance (ESG)-related risk by...
