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

  • ID: 2035408
  • November 1998
  • Standard & Poors
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Abstract
The underlying rating on Denver City and County, Colo.'s bonds reflects the following credit strengths: * A pledged revenue stream with full rate-setting flexibility; * Solid growth in origination and destination enplanements, averaging 4.6% annually since 1990a critical factor in the car rental market; * A strong rental car market that benefits from increasing diversification and growth of the local economy; and * The broad mix of car rental companies with 12 companies operating "on-airport" at Denver International Airport (DIA). These factors are tempered by: * A trend of decline in the number of transaction days per auto rental contract; * Susceptibility of pledged revenues to economic cycles; and * Permissive legal provisions, including a projected additional bonds test and...

Companies mentioned in this report are:
- Denver City & Cnty

Action: New Rating

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- Denver City & Cnty

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