Standard&Poor's Ratings Services assigned its 'AAA/A-1+' rating to Colorado Educational and Cultural Facilities Authority's variable-rate demand bonds (Clyfford Still Museum Project) series 2008. The rating is based on an irrevocable, direct-pay letter of credit (LOC) provided by Wells Fargo Bank N.A. (AAA/A-1+). The LOC, which initially expires on Sept. 1, 2013, covers the purchase price of tendered but unremarketed bonds, as well as, principal of and up to 105 days' interest calculated at the maximum rate of 10%. The bonds will initially be offered in the weekly rate mode, but may be converted to bear interest in the monthly, quarterly, semiannual, annual, five-year, or fixed-rate modes. Upon such conversion, the bonds are subject to mandatory tender. While bonds
