Fitch assigns an underlying 'A+' rating to approximately $293 million City and County of Denver, Colorado, (the city), for and on behalf of its Department of Aviation (Denver International Airport [DIA] or the airport) series 2008C1-C3 airport system revenue bonds. The series 2008C bonds consist of the following sub-series:
--$92.6 million, 2008C1 (AMT);
--$100 million, 2008C2 (AMT);
--$100 million, 2008C3 (AMT).
Fitch has also assigned a long-term rating of 'A+' to the corresponding bank bonds. Fitch will separately assign additional ratings to the new issues based on bank enhancements. The series 2008C bonds will refund the 2000B and 2000C bonds. Fitch also affirms the 'A+' rating on the city's approximately $3.8 billion in outstanding airport system revenue bonds. All airport system revenue bonds are payable from the net revenues of the airport system. The Rating Outlook on all bonds is Stable.
