Standard & Poor’s has given Fort Collins a two-notch upgrade on its storm water utility revenue bonds to AA-plus from AA-minus.
“We base the upgrade on Fort Collins’ maintenance of very strong liquidity and coverage, both of which we believe are likely to persist given the city’s plans to fund its capital program mainly on a pay-as-you-go basis,” said credit analyst Timothy Barrett.
“The stable outlook reflects the expectation that the system will continue to exhibit a sound financial and operating performance, coupled with the implementation of a cash-funded capital improvement program,” he added.
The city, 62 miles north of Denver and home of Colorado State University, has no plans to issue more debt, Barrett noted. As the seat of government for Larimer County, Fort Collins also boasts strong employment in government, education, manufacturing, and health care sectors.
