...S&P Global Ratings raised its short-term rating component on Colorado Springs, Colo.'s series 2007A utilities system variable-rate demand improvement revenue bonds to '##+/A-1+' from '##+/A-1'. The outlook is stable. This rating action reflects our assessment of the replacement of the existing liquidity facility provided by Wells Fargo Bank N.A. with a new liquidity facility provided by TD Bank N.A., effective Sept. 22, 2020. The long-term component of the rating reflects the rating on Colorado Springs's credit characteristics. The short-term component of the rating reflects the new liquidity facility in the form of a standby-bond-purchase agreement (SBPA) from TD Bank N.A. The new SBPA will cover the purchase price of unremarketed tendered bonds, including up to 35 days' interest for the bonds at the maximum interest rate of 12% annually. The new SBPA for the bonds is scheduled to terminate Sept. 21, 2023. At such time, if the SBPA is not replaced or extended, we will remove the short-term...
