NEW YORK (Standard&Poor's CreditWire) April 26, 1999 NEW YORK (Standard&Poor's CreditWire) April 26, 1999 – Standard&Poor's today raised its rating on Colorado Springs, Colo.'s $30.25 million GO bonds to double-'A' from double-'A'-minus. The rating is based on the expansion of the city's economic base due to job creation in the high-technology and telecommunications business sectors. The GO bonds are secured by the city's authority to annually levy unlimited ad valorem taxes to repay debt service. The rating also reflects the city's: -- Service-center appeal; -- Strong tax base with substantial growth in assessed property valuation; -- Sustained low debt levels; and -- Strong financial management and solid fiscal policies. The rating anticipates that unreserved general fund balance levels will continue to be stable.
