Standard&Poor's Ratings Services affirmed its 'AA-' long-term rating and underlying rating (SPUR) on Colorado Springs, Colo.'s outstanding appropriation obligations, including those issued by the Colorado Springs Public Facilities Authority (formerly known as the Colorado Springs Recreational Facility Authority), based on our local GO criteria, released Sept. 12, 2013, and on the city's improved finances. The outlook is stable. The ratings reflect our view of the city's: General credit characteristics as lessee and obligor, and Obligation to budget lease payments, which are subject to annual appropriation. The COPs represent an interest in lease payments made by the City of Colorado Springs, as lessee, to the Colorado Springs Public Facilities Authority, a nonprofit public benefit corporation, as lessor, for the
