Standard&Poor's Ratings Services affirmed its 'AA-' Standard&Poor's underlying rating (SPUR), and stable outlook, on Colorado Springs Recreation Facilities Authority, Colo.'s certificates of participation (COPs) outstanding, issued for Colorado Springs, Colo. The SPUR reflects: The very strong general creditworthiness of Colorado Springs; The annual appropriation risk for lease payments; and The project's satisfactory essentiality -- the construction of six lighted softball fields and two lighted concrete fields to address the strong demand for the city's adult recreational softball leagues. The city's base rental payments secure the certificates. Under the lease agreement, the officer of the city, who is responsible for formulating budget proposals, is directed to include money to cover base rental payments in each annual budget
