Standard&Poor's Ratings Services assigned its 'AA-' long-term rating to Colorado Springs Public Facilities Authority, Colo.'s series 2011 refunding certificates of participation (COPs) issued on behalf of Colorado Springs. In addition, Standard&Poor's affirmed its 'AA-' underlying rating (SPUR) on the city's outstanding appropriation obligations, including those issued by the Colorado Springs Public Facilities Authority (formerly known as the Colorado Springs Recreational Facility Authority). The rating on the COPs reflects 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 ratings further reflect our view of the city's: Economic stability due to its role as a service center for central Colorado and a
