...S&P Global Ratings assigned its '###' rating to Denver City & County's (the city) $366.4 million general obligation (GO) bonds series 2022 A, B, and C. The outlook is stable. At the same time, S&P Global Ratings affirmed its '###' rating on the city's GO bonds outstanding and its '##+' long-term rating and underlying rating (SPUR) on various city certificates of participation (COPs) and lease-secured obligations. We also affirmed our '##+' rating on debt issued by the Denver Housing Authority but secured by a pledge from Denver to annually levy and appropriate an affordable housing millage that will support the debt, and the '##+/A-1' ratings on Denver's 2008 A1-A3 variable-rate COPs with a JPMorgan Chase Bank N.A. (A+/Stable/A-1) credit facility. Proceeds from the 2022 A, B, and C bonds will be used to fund the next phase of capital improvements from the city's recent bonded debt voter initiatives, Elevate Denver (passed in 2017), and RISE Denver (passed in 2021). The bonds are secured...
