The rating on Colorado Springs, Colo.'s bonds reflects: The city's strong general creditworthiness('AA' GO debt rating); A strong and diverse sales tax base; Solid legal provisions, including a historical additional bonds test requiring 2 times (x) coverage of future maximum annual debt service (MADS); and Strong coverage of future MADS. The bonds are secured by the city's pledge of its 2% sales and use tax to repay debt service. Colorado Springs, Colo. (population 341,000) is located approximately 65 miles south of Denver and is the county seat of El Paso County. The city has a service-based economy and serves as an MSA. Leading area employers include high technology companies Atmel Corp., a semiconductor manufacturer (2,000 employees) and Hewlett-Packard (1,400 employees)
