Standard&Poor's Ratings Services assigned its 'AA' long-term rating to Colorado Springs, Colo.'s $60.625 million variable rate demand utilities system subordinate lien improvement and refunding revenue bonds, series 2006A, and to its $75 million variable rate demand utilities system subordinate lien improvement revenue bonds, series 2006B. The bonds are secured by a pledge of net revenues of Colorado Springs Utilities' electric, gas, water, wastewater, and streetlight systems. The pledge is subordinate to approximately $113 million of first-lien bonds. However, the first lien is a closed lien, and, consequently, the ratings on the first- and subordinate-lien bonds are not differentiated. The 'AA' long-term rating reflects the following: Strong financial management, resulting in total coverage of about 1.8x-2.0x on a historical
