Denver City & County, Colorado Helen G. Bonfils Foundation; Non-Profit Organizations Dec 10

Standard & Poors, December 2010

Abstract
Standard & Poor's Ratings Services affirmed its 'A+' long-term rating on Colorado Educational and Cultural Facilities Authority's series 2009 revenue bonds and Denver City and County, Colo.'s series 2002 revenue bonds, all issued for the Helen G. Bonfils Foundation (HGBF). The outlook is stable. The rating reflects our view of: HGBF's proven ability to adjust annual contributions to the Denver Center for the Performing Arts (DCPA), to which it gave a $2 million contribution in fiscal 2010; and DCPA's decreasing reliance on annual contributions from the foundation, which accounted for under 4% of fiscal 2010 revenues. The preceding credit strengths are offset in part by our view of HGBF's: Low financial resources for the rating category, with cash and investments...

Companies mentioned in this report are: Helen G. Bonfils Foundn,Denver City & Cnty,Colorado Educl & Cultural Facs Auth
Action: Affirmed

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.

Research Type: Full Analysis

Helen G. Bonfils Foundn,Denver City & Cnty,Colorado Educl & Cultural Facs Auth

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