Standard&Poor's Ratings Services raised its rating on Colorado Springs' variable-rate demand utilities system subordinate-lien improvement and refunding revenue bonds series 2006A and 2007B to 'AA/A-1+' from 'AA/A-1', following the substitution of the standby bond purchase agreements (SBPA) provided by Dexia Credit Local (A-1) to ones provided by JPMorgan Chase Bank N.A. (A-1+) and Barclays Bank PLC for series 2006A and 2007B, respectively, effective Sept. 21, 2011. The SPBAs provide liquidity coverage for 100% of outstanding par bonds 35 days of interest at 12%. The JPMorgan Chase Bank and Barclays Bank PLC SBPAs are scheduled to terminate on Sept. 15, 2013, and Sept. 15, 2014, respectively, unless terminated for other events in accordance with its terms. Should the long-term
