Fitch Rates Colorado Springs Utilities, CO's 2010A-1&2 and 2010B Utilities System Rev

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    • Jan 2009
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    Fitch Rates Colorado Springs Utilities, CO's 2010A-1&2 and 2010B Utilities System Rev

    Fitch Ratings assigns an 'AA' rating to the following Colorado Springs (CSU, Colorado Springs), CO's utilities system revenue bonds.--$99,295,000 series 2010A-1 (tax exempt); --$77,460,000 series 2010A-2 (federally taxable Build America Bonds (BABs); --$300,000,000 series 2010B (federally taxable BABs).NEW ISSUE DETAILS.Colorado Springs will be issuing approximately $470.6 million in additional (subordinate lien) utilities system revenue/refunding bonds to refund certain outstanding parity bonds, provide two years of projected funding needs, and finance Southern Delivery System (SDS) Phase I projects. The 2010 bonds are all secured by a net revenue pledge on parity with total outstanding ($1.74 billion) subordinate lien obligations.

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