Standard&Poor's Ratings Services assigned its 'AA' rating to Frederick, Colo.'s sales and use tax revenue bonds, series 2015B. At the same time, we affirmed our 'AA' long-term rating on the town's sales and use tax revenue bonds outstanding. The outlook is stable. The rating reflects our view of the town's: Rapidly expanding sales and property tax bases, with good access to the Denver metropolitan area; Very strong growth in pledged revenues, following some large declines, which has led to pro forma maximum annual debt service (MADS) coverage of over 6x in 2014; and Strong 2x additional bonds test (ABT). Partly offsetting the above strengths, in our view, is the considerable concentration in the town's top sales tax generators,
