...CENTENNIAL (S&P Global Ratings) Sept. 1, 2017--S&P Global Ratings has assigned its '##' rating to the City of Colorado Springs, Colo.'s utilities system revenue refunding bonds series 2017A-1, 2017A-2, and 2017A-3. 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 financial metrics that support the rating, including very strong coverage of fixed costs and substantial liquidity," said S&P Global Ratings credit analyst Doug Snider. We believe other credit-positive factors include + Generally competitive rates across the combined utility system; + A diverse mix of resources in its electric system relative to the region, all coal-fired generation accounts for about 43% of total energy needs; and + A stable regional economy, with permanent military installations, no significant exposure to customer concentration, and a gradual-but-steady increase in customers. The system's...
