Standard&Poor's Ratings Services has assigned its 'AA' rating to the City of Colorado Springs, Colo., $42 million utilities system improvement revenue bonds, series 2008C. 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' long-term rating on Colorado Springs Utilities parity debt outstanding. The outlook is stable. After the bonds are issued, debt outstanding will total $1.6 billion. The proceeds of series 2008C will finance a portion of the costs of a major water delivery system known as the Southern Delivery System. The 'AA' long-term rating reflects the following: Strong financial management, resulting in total debt service coverage of about
