Standard&Poor's Ratings Services has assigned its 'AA+/A-1+' rating to Colorado Educational And Cultural Facilities Authority's (King's Way Christian School Project) revenue bonds series 2009. The rating is based on a confirming, irrevocable, direct-pay letter of credit (LOC) provided by U.S. Bank N.A. (AA+/A-1+). The LOC will expire on April 1, 2015, unless terminated earlier pursuant to its terms. The LOC is sized at principal plus 34 days' interest, calculated with a maximum rate of 12%. Bonds may bear interest in the weekly, one-month, purchaser, three-month, six-month, one-year, five-year, and the fixed-rate modes. A mandatory tender will occur upon conversion to any mode. Holders may option to tender their bonds in the weekly, one month, three-month, six-month, one-year, or
