Standard&Poor's Ratings Services assigned its 'AA' long-term rating to Colorado Springs, Colo.'s: $75 million series 2007A variable-rate demand utilities system subordinate-lien improvement revenue bonds; $87.275 million series 2007B variable rate demand utilities system subordinate-lien improvement and refunding revenue bonds; $24.3 million series 2007C subordinate-lien refunding revenue bonds. The proceeds of series 2007A will be used to fund capital expenditures. The proceeds of series 2007B and 2207C will be used to refund series 1997A, which is the last remaining debt outstanding under the senior lien. The bonds are secured by a pledge of net revenues of Colorado Springs Utilities' electric, gas, water, wastewater, and streetlight systems. Standard&Poor's also affirmed its 'AA' rating on Colorado Springs' parity debt.
