Standard&Poor's Ratings Services assigned its 'AA/A-1+' rating to City of Colorado Springs, Colo.'s utilities system revenue bonds, series 2010C. The bonds will be variable rate and are secured by a pledge of net revenues of Colorado Springs Utilities' (CSU) electric, gas, water, wastewater, and streetlight systems. At the same time, Standard&Poor's affirmed its 'AA' long-term rating on CSU's parity debt outstanding. The outlook is stable. After issuing these bonds, debt outstanding will total about $2 billion. The utility will use bond proceeds to finance a major water delivery system known as Southern Delivery System (SDS), as well as pay issuing costs and fund the debt service reserve, which is equal to annual interest expense. The 'A-1+'
