S&P Global Ratings revised the outlook to stable from negative and affirmed its 'AA+', 'AA+/A-1+', and 'AA+/A-1' ratings on Colorado Springs, Colo.'s utilities system revenue debt outstanding. At the same time, S&P Global Ratings assigned its 'AA+' long-term rating to the city's anticipated $202.21 million series 2023A utilities system improvement bonds and $159.84 million series 2023B utilities system refunding revenue bonds. The outlook revision reflects our view of Colorado Springs Utilities' (CSU) demonstrated operational and financial resilience in the face of fuel price volatility, along with managements' multi-layered approach to mitigating future volatility, which we expect will be sufficient for the utility to maintain financial metrics (S&P Global Ratings-calculated) that are consistent with historical results. A pledge of net revenues
