Summary: Denver City & Cnty, CO; Revenue - Transportation, Airport Nov 98

Standard & Poors, November 1998

Abstract
The 'BBB+' rating was assigned to Denver City and County, Colo.'s outstanding unenhanced airport revenue bonds, issued for the Denver Department of Aviation. The city and county recently priced and sold $206.665 million of airport system revenue bonds series 1998A and $103.395 million in series 1998B bonds issued for Denver International Airport. The 'BBB+' rating represents an upgrade from the BBB/Positive previously assigned to all parity senior-lien obligations reflecting: - Substantial progress in managing and reducing airport cost and debt levels, as well as limiting exposure to future Stapleton disposition costs; and - Revenue and traffic performance that have exceeded forecasts and Standard & Poor's expectations. Other credit strengths relate to an economically solid and growing service area, as well...

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

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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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