...S&P Global Ratings Services assigned its '##-' rating to Denver City and County, Colo.'s series 2018A-1, 2018A-2, and 2018-B dedicated tax revenue bonds. The outlook is stable. The bonds are secured by a first lien on an irrevocable pledge on lodger's tax, auto rental tax, and prepared food and beverage tax. The tax collection area is coterminous with the city and county of Denver. These bonds are on parity with the city's series 2016 dedicated tax revenue bonds. A debt service reserve fund funded at the standard three-prong test also secures the debt. Bond proceeds will be used to fund improvements to the city's National Western Center (NWC) campus. The campus is a redevelopment of the National Western Stock Show complex and the Denver Coliseum, and partners for the redevelopment include Colorado State University and the Stock Show Association. The city plans to issue additional debt in fiscal 2020 to fund the remaining phase I and II projects of the 10-year plan to improve the NWC. The...
