Summary: Denver City & Cnty, CO; Tax Secured, General Obligation May 03

Standard & Poors, May 2003

Abstract
The 'AA+' rating on Denver City and County, Colo.'s GO bonds reflects: A strong and diverse economy, Above-average wealth and income levels, Moderate debt levels, and Strong financial performance aided by midyear budget-cutting actions to offset recent revenue declines. These factors are offset slightly by recent economic softness and state constitutional limitations on revenues that will most likely slightly "ratchet down" permissible revenues for general purposes, absent a voter-approved exemption. Denver serves as a service, trade, and transportation center for the greater Rocky Mountain region. Denver's growing metropolitan employment has strongly outperformed national trends until recently and is diversified among services, trade, government, and manufacturing, although services accounted for 32% of the metropolitan total in 2001. Growth has primarily been...

Companies mentioned in this report are: Denver City & Cnty
Action: Affirmed

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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 City & Cnty

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