Denver City&County, CO Revenue Refunding Bonds Assigned 'AA-' Rating

SAN FRANCISCO (Standard&Poor's) Feb. 25, 2016--Standard&Poor's Ratings Services assigned its 'AA-' rating to Denver City and County, Colo.'s series 2016A and 2016B dedicated tax revenue refunding and improvement bonds. The outlook is stable. "The rating reflects our view of the large and diverse economic base of the city of Denver, which generates the pledged taxes; the city's position as a tourist and convention destination; the strong 1.75x additional bonds coverage test; and strong pro forma coverage of maximum annual debt service," said Standard&Poor's credit analyst Misty Newland. We understand that the bond proceeds will be used to refund the city's series 2005A and 2009A debt and for improvements to the National Western Center and

...SAN FRANCISCO (Standard & Poor's) Feb. 25, 2016--Standard & Poor's Ratings Services assigned its '##-' rating to Denver City and County, Colo.'s series 2016A and 2016B dedicated tax revenue refunding and improvement bonds. The outlook is stable. "The rating reflects our view of the large and diverse economic base of the city of Denver, which generates the pledged taxes; the city's position as a tourist and convention destination; the strong 1.75x additional bonds coverage test; and strong pro forma coverage of maximum annual debt service," said Standard & Poor's credit analyst Misty Newland. We understand that the bond proceeds will be used to refund the city's series 2005A and 2009A debt and for improvements to the National Western Center and Colorado Convention Center. RELATED CRITERIA AND RESEARCH Related Criteria + USPF Criteria: Special Tax Bonds, June 13, 2007 + Criteria: Use of CreditWatch And Outlooks, Sept. 14, 2009 Related Research + U.S. State And Local Government Credit Conditions...

Ratings Action