Summary: Denver City & County Department of Aviation, Colorado Denver International Airport; Airport; Joint Criteria Sep 11

Standard & Poors, September 2011

Abstract
Standard & Poor's Ratings Services assigned its 'A+' long-term rating to Denver City and County Department of Aviation, Colo.'s $425.9 million series 2011B, 2011C, and 2011D airport system refunding revenue bonds, issued for Denver International Airport (DIA). In addition, Standard & Poor's affirmed its 'A+' long-term rating and underlying rating (SPUR) on DIA's bonds outstanding. Also, Standard & Poor's affirmed its 'AAA' long-term rating on certain bonds based on the application of joint criteria. The outlook is stable. The ratings reflect our view of the following credit strengths: The continued commitment from United Continental Holdings Inc. (United; B/Stable/--) to operate a major hub at DIA; Stable passenger traffic during the economic downturn, with enplanements totaling 26.1 million in 2010, an...

Companies mentioned in this report are:
- Denver Intl Arpt
- Denver City & Cnty Dept of Aviation

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Denver Intl Arpt
- Denver City & Cnty Dept of Aviation

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