Fitch Ratings has assigned an 'AA' rating to Jefferson County, Colorado's (the county) $21,925,000 open space sales tax revenue refunding bonds, series 2010. The bonds are expected to price via competitive sale Sept. 14, 2010. In addition, Fitch affirms the following rating. --Approximately $92 million (post-refunding) in outstanding open space sales tax revenue bonds at 'AA'. The Rating Outlook is Stable. RATING RATIONALE. --Evidenced by a modest decline in 2009, sales tax receipts pledged for debt service are inherently sensitive to the volatility of the economic cycle. --Coverage of maximum annual debt service (MADS) remains solid. --While there is sales taxpayer concentration, it is mitigated by the essentiality
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