Standard&Poor's Ratings Services has assigned its 'AA' rating to the City of Colorado Springs, Colo.'s $62 million utilities systems refunding revenue bonds, series 2008B. Securing the bonds are a pledge of net revenues of Colorado Springs Utilities' electric, gas, water, wastewater, and streetlight systems. Standard&Poor's also affirmed its 'AA' long-term rating on Colorado Springs Utilities parity debt outstanding. The outlook is stable. The series 2008B proceeds will refund a portion of Colorado Springs Utilities' $1.5 billion debt outstanding. The 'AA' long-term rating reflects the following: Strong financial management, resulting in total coverage of about 1.8x-2.5x on a historical and projected basis; Competitive rates in each of its four utility systems, although significant rate increases will accompany
