The 'AA+' rating on Denver City and County, Colo.'s GO medical facilities bonds series 2003B reflects the following: A large and diverse economy. Above-average wealth and income levels. Moderate debt levels. Strong financial performance aided by proactive midyear budget-cutting actions to offset recent revenue declines and maintain general fund balances at good levels through several years of economic softness. The city's newly elected mayor, John W. Hickenlooper, has submitted a fiscal 2004 budget that would appear to continue the city's commitment to maintain general fund balances of at least 10% of expenditures. These factors are offset by recent economic softness that has caused a decline in city sales tax collections, and state constitutional limitations on revenues that, combined with the
