Standard&Poor's Ratings Services assigned its 'AAA' rating to Colorado Water Resources and Power Development Authority's clean water revenue bonds, series 2008A based on the state revolving fund program's ability to meet Standard&Poor's default tolerance criteria for an 'AAA' rated program based on cash flow tests for the combined drinking water and clean water (water pollution control) programs. Standard&Poor's also affirmed its 'AAA' rating on the authority's preexisting debt. The rating also reflects: Surplus matching accounts that provide cross-collateralization between the authority's drinking water and water pollution control loans; Debt service reserves dedicated to the borrowers' loans funded at a minimum of maximum annual debt service (MADS), coupled with surplus funds at the program level
