Standard&Poor's Ratings Services raised its rating on Colorado Springs' (Colorado Springs Utilities) series 2008A variable-rate demand utilities system improvement revenue bonds one notch to 'AA/A-1+' from 'AA/A-1'. The outlook is stable. The raising of the rating reflects a new standby bond purchase agreement (SBPA) provided by U.S. Bank National Assn. (AA-/A-1+), substituting a prior SBPA from Bank of America N.A. (A/A-1). The long-term component of the rating is based on the rating on the obligor, Colorado Springs. The short-term component of the rating is based on the rating on the liquidity facility provider, U.S. Bank National Assn. The SBPA covers payment of principal and up to 35 days' interest at the maximum 12% rate for the purchase price
