Bangkok--26 Oct--Standard & Poor's
Standard & Poor's Ratings Services assigned its 'A+' rating to Grand Junction, Colo.'s certificates of participation (COPs), series 2010, 2010A, and 2010B. The 2010B certificates will be issued as direct-payment Build America Bonds. The outlook is stable.
"The rating reflects our opinion of the city's role as a regional trade and services hub for western Colorado and eastern Utah, strong financial position, and strong financial management policies and practices," said Standard & Poor's credit analyst Jen Hansen.
Proceeds of the 2010 certificates will be used to improve the stadium in Lincoln Park, near the center of the city. Proceeds from the 2010A and 2010B certificates will be used to finance the construction of a new police building, including a 911 emergency dispatch center, and the renovation of an existing fire station.
Grand Junction is the largest city in western Colorado and the seat of Mesa County. The city is located along Interstate 70 near the Utah border, and is the last major settlement on the western slope of the Rocky Mountains before the sparsely populated desert basin of eastern Utah. The city's current population is estimated at 51,600.
RELATED CRITERIA AND RESEARCH
USPF Criteria: Appropriation-Backed Obligations, June 13, 2007
Complete ratings information is available to RatingsDirect subscribers on the Global Credit Portal at www.globalcreditportal.com and RatingsDirect subscribers at www.ratingsdirect.com. All ratings affected by this rating action can be found on Standard & Poor's public Web site at www.standardandpoors.com. Use the Ratings search box located in the left column.
Media Contact:
Fabienne Alexis, New York (1) 212-438-7530,
[email protected]
Analyst Contacts:
Jennifer Hansen, San Francisco 415-371-5035
Matthew Reining, San Francisco (1) 415-371-5044