Summary: Denver City And County School District No.1, Colorado; Appropriations; School State Program Sep 09

Standard & Poors, September 2009

Abstract
Standard & Poor's Ratings Services assigned its 'AA-' issuer credit rating (ICR) and long-term rating to Denver City and County School District No. 1, Colo.'s series 2009B general obligation (GO) bonds (qualified school construction). At the same time, Standard & Poor's affirmed its 'AA-' ICR and long-term rating on the district's outstanding GO bonds. Finally, Standard & Poor's affirmed its 'A+' underlying rating (SPUR) on the district's outstanding certificates of participation (COPs). The rating reflects: A broad economic base that serves as a regional trade center; Adequate general fund balances and financial management practices, with additional revenue support from mill-levy overrides and a substantial reserve designated for compensation; and Low overall net debt burden as a percent of estimated market...

Companies mentioned in this report are:
- Denver City & Cnty Sch Dist #1

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 City & Cnty Sch Dist #1

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