Colorado Springs COP Rating Raised To 'AA' On Stable General Fund Performance - S&P Global Ratings’ Credit Research

Colorado Springs COP Rating Raised To 'AA' On Stable General Fund Performance

Colorado Springs COP Rating Raised To 'AA' On Stable General Fund Performance - S&P Global Ratings’ Credit Research
Colorado Springs COP Rating Raised To 'AA' On Stable General Fund Performance
Published Oct 12, 2018
3 pages (1155 words) — Published Oct 12, 2018
Price US$ 150.00  |  Buy this Report Now

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Abstract:

SAN FRANCISCO (S&P Global Ratings) Oct. 12, 2018--S&P Global Ratings raised its long-term rating and underlying rating (SPUR) to 'AA' from 'AA-' on Colorado Springs' certificates of participation (COPs) outstanding. At the same time, S&P Global Ratings assigned its 'A' long-term rating to the city's series 2018 Pikes Peak America's Mountain Enterprise revenue bonds. The outlook is stable. "The rating action on the COPs outstanding reflects our view of the city's stable general fund performance and very strong debt profile," said S&P Global Ratings credit analyst Misty Newland. "In addition, the city is well positioned for continued economic expansion given its relative affordability within the state and presence of economic anchors such as the U.S. Olympic Committee and multiple military

  
Brief Excerpt:

...SAN FRANCISCO (S&P Global Ratings) Oct. 12, 2018--S&P Global Ratings raised its long-term rating and underlying rating (SPUR) to '##' from '##-' on Colorado Springs' certificates of participation (COPs) outstanding. At the same time, S&P Global Ratings assigned its 'A' long-term rating to the city's series 2018 Pikes Peak America's Mountain Enterprise revenue bonds. The outlook is stable. "The rating action on the COPs outstanding reflects our view of the city's stable general fund performance and very strong debt profile," said S&P Global Ratings credit analyst Misty Newland. "In addition, the city is well positioned for continued economic expansion given its relative affordability within the state and presence of economic anchors such as the U.S. Olympic Committee and multiple military bases," Ms. Newland added. The bond proceeds, along with $15 million of Pikes Peak America's Mountain enterprise (the enterprise) reserves and $10 million of donations, will be used to construct a 39,180-square-foot...

  
Report Type:

Ratings Action

Issuer
Colorado Springs
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Colorado Springs COP Rating Raised To 'AA' On Stable General Fund Performance" Oct 12, 2018. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Colorado-Springs-COP-Rating-Raised-To-AA-On-Stable-General-Fund-Performance-2113330>
  
APA:
S&P Global Ratings’ Credit Research. (). Colorado Springs COP Rating Raised To 'AA' On Stable General Fund Performance Oct 12, 2018. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Colorado-Springs-COP-Rating-Raised-To-AA-On-Stable-General-Fund-Performance-2113330>
  
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