Standard&Poor's Ratings Services has assigned its 'AA/A-1+' ratings to the City of Colorado Springs, Colo., variable rate demand utilities system improvement revenue bonds series 2008A. A pledge of net revenues of Colorado Springs Utilities' electric, gas, water, wastewater, and streetlight systems secure the bonds. Standard&Poor's also affirmed the 'AA' long-term rating on Colorado Springs Utilities' parity debt outstanding. The outlook is stable. The short term component of the Series 2008A rating reflects the likelihood of payment of tenders and reflects a liquidity facility from JPMorgan Chase Bank, N.A. (AA/Negative/A-1+). The proceeds of series 2008A will fund capital expenditures. Colorado Springs Utilities has $1.5 billion of debt outstanding. The 'AA' long-term rating reflects the following factors: Strong
