NEW YORK (Standard&Poor's CreditWire) June 2, 1999—Standard&Poor's today assigned its double-'A'-minus rating to Colorado Springs, Colo.'s $29.94 million revenue bonds series 1999, issued for Colorado College. The bonds are scheduled to sell June 16, 1999. Standard&Poor's also upgraded its rating on Colorado Springs' $11.9 million revenue bonds series 1994 (Colorado College Project), issued for the college to double-'A'-minus from single-'A'-plus. The rating upgrade reflects: -- Strong growth in unrestricted resources, which have increased 39% since 1996 and equate to $133,884 per student; -- Improved financial flexibility and liquidity with unrestricted resources representing 4 times (x) operations and 6.3x pro forma debt; -- Favorable demand trends characterized by stable enrollment and increased selectivity; and --
