Fitch Ratings takes the following rating action on Arrowhead Metropolitan District, Colorado (the district) as part of its continuous surveillance effort. --Approximately $5.2 million in outstanding general obligation (GO) refunding bonds, series 2001 affirmed at 'A+'. The Rating Outlook is Stable. RATING RATIONALE. --Financial performance continues to be favorable, aided by conservative budgeting practices and the accumulation of sizable general fund reserves. --Capital needs are modest, and no additional new money borrowing is planned. --This limited, high-end district is mature and essentially built-out. --Assessed values (AV) for fiscal 2012 are expected to drop substantially, reflecting the weakened primary and secondary housing market. --The district's recreation and tourism based
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