Fitch Rates Colorado Regional Transportation District's $42MM Sales Tax Revs 'AA'

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    • Jan 2009
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    Fitch Rates Colorado Regional Transportation District's $42MM Sales Tax Revs 'AA'

    Fitch Ratings assigns an 'AA' rating to the Regional Transportation District, Colorado's (RTD) $42,025,000 million sales tax revenue refunding bonds, series 2009A. The bonds are expected to be sold through negotiation on or about Dec. 15.Also, Fitch affirms the following ratings on related RTD issues.--$286.6 million in outstanding parity sales tax revenue bonds (senior bonds) 'AA'; --$614.8 million outstanding sales tax revenue bonds (FasTracks Project) 'AA-'; --$291.1 million outstanding certificates of participation (COPs) 'A+'.The Rating Outlook for all obligations is Stable.Rating Rationale.--Strong service area exhibits cyclicality; severe recent sales tax decline.--Sound debt service coverage by pledged sales tax

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