Standard&Poor's Ratings Services assigned its 'AA+' long-term rating, with a stable outlook, to Colorado Springs, Colo.'s series 2009 sales and use tax revenue refunding bonds. Standard&Poor's also affirmed its 'AA+' long-term rating and underlying rating (SPUR) on the outstanding parity obligations secured by the city's general sales and use tax. The bonds are secured by a lien on sales and use tax revenues net of the cost of collection derived from the city's existing 2% general sales and use tax. The credit strengths of this pledge, in our opinion, include: A taxing area that encompasses nearly 400,000 residents and is the primary service center for central Colorado; Very strong 9.5x coverage of pro forma maximum annual
