Bangkok--24 Jul--Standard & Poor's
Standard & Poor's Ratings Services assigned its 'AA' rating to Parker, Colo.'s certificates of participation (COPs), series 2009A, 2009B, and 2009C. The outlook is stable.
"The rating reflects Parker's high-income local community with good access to the broad and deep Denver MSA economy, and large property tax base with strong wealth indicators," said Standard & Poor's credit analyst Matthew Reining. "In addition, the town has a recent history of good financial performance with reserve levels that have remained very strong."
Bond proceeds will be used to construct and equip a new police facility and civic center. The series 2009A will be sold as Build America Bonds and the town appropriates the full base rental payment for certificates holders. The series 2009B are tax-exempt COPs, and the series 2009C are taxable COPs.
The Town of Parker is located 22 miles southeast of Denver in Douglas County. The town's population totaled 46,100 in 2008.
RELATED RESEARCH
USPF Criteria: "Appropriation-Backed Obligations," June 13, 2007
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Media Contact:
Ana Sandoval, New York (1) 212-438-5095, [email protected]
Analyst Contacts:
Matthew Reining, San Francisco (1) 415-371-5044
Jennifer Hansen, San Francisco 415-371-5035
Key Contacts:
Americas Media Relations: (1) 212-438-6667
media_ [email protected]
Americas Customer Service: (1) 212-438-7280
[email protected]