Bangkok--27 Jan--Standard & Poor's
Standard & Poor's Ratings Services assigned its 'A' rating to Carbon Valley Park and Recreation District, Colo.'s series 2010 general obligation (GO) refunding bonds. The outlook is stable.
"The rating is based on the district's very strong per capita market value and strong average annual growth in assessed value," said Standard & Poor's credit analyst Bryan Moore.
Management indicates that proceeds of the series 2010 GO refunding bonds will in part refund a portion of the district's outstanding series 2002 GO bonds.
The approximately 45-square-mile district is located in southwest Weld County, Colo., and includes the communities of Frederick, Firestone, and Dacono, and rural areas that surround the three towns. The district has a population of approximately 22,646 residents and $300 million in total AV. The district is a quasi-municipal corporation and a political subdivision of the state and was created pursuant to state law for the purpose of providing park and recreational services and facilities for the inhabitants of the district.
RELATED RESEARCH
USPF Criteria: GO Debt, Oct. 12, 2006
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Media Contact:
Mimi Barker, New York (1) 212-438-5054,
[email protected]
Analyst Contacts:
Bryan A Moore, San Francisco (1) 415-371-5077
Timothy Barrett, New York (1) 212-438-6327