Standard&Poor's Ratings Services assigned its 'AA-' rating to Colorado Springs, Colo.'s series 2008B certificates of participation (COPs). In addition, Standard&Poor's affirmed its 'AA' long-term GO rating and its 'AA-' long-term rating and underlying rating (SPUR) on the city's outstanding appropriation obligations, including those issued by the Colorado Springs Recreation Facilities Authority. The city's absolute and unconditional obligation to budget and appropriate base rental payments under successive one-year leases secures the certificates. In our opinion, the city's primary strengths include its: Economic stability from its role as a service center for central Colorado and a large military presence; Good financial policies and practices; and Low debt burden. Constraining credit quality is the city's limited revenue flexibility and
