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Fitch Rates Colorado Springs Utilities, CO 2008A Bank Bonds 'AA'; Outlook Stable

NEW YORK--(BUSINESS WIRE)--Fitch Ratings has assigned an 'AA' rating to the following City of Colorado Springs, CO bonds issued on behalf of Colorado Springs Utilities (CSU):

--$50,000,000 ($45,585,000 currently outstanding) City of Colorado Springs, Colorado Variable Rate Demand Utilities System Improvement Revenue Bonds, Series 2008A (bank bonds).

The bank bond rating is assigned to the series 2008A bonds but will only become applicable if the bonds cannot be remarketed and are purchased by the bank providing the liquidity facility. The rating is based on the underlying long-term rating of CSU. The new facility with U.S. Bank National Association (rated 'AA-/F1+' by Fitch) becomes effective Sept. 2, 2014 and expires Sept. 1, 2017.

The Rating Outlook for all the bonds is Stable.

For additional information on the long-term rating see the press release 'Fitch Rates Colorado Springs (CO) Series 2014A Rev Bonds 'AA'; Outlook Stable' dated Aug. 14, 2014, available on Fitch's website at www.fitchratings.com.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'U.S. Public Power Rating Criteria' (March 18, 2014);

--'2014 Outlook: U.S. Public Power and Electric Cooperative Sector' (Dec. 12, 2013).

--'Rating U.S. Public Finance Short-Term Debt' (Dec. 9, 2013).

Applicable Criteria and Related Research:

U.S. Public Power Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=740841

2014 Outlook: U.S. Public Power and Electric Cooperative Sector (Calm Under Pressure)

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=725447

Rating U.S. Public Finance Short-Term Debt

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=724680

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=863114

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Contacts

Fitch Ratings
Primary Analyst
Alan Spen
Senior Director
+1-212-908-0594
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Secondary Analyst
Lina Santoro
Senior Director
+1-212-908-0522
or
Committee Chairperson
Dennis Pidherny
Managing Director
+1-212-908-0738
or
Media Relations
Elizabeth Fogerty, +1-212-908-0526
elizabeth.fogerty@fitchratings.com