Fitch gives AAA/F1+ to Denver airport bonds

Fitch Ratings said it confirmed the long-term AAA rating on $208.025 million in airport system revenue bonds issued by the city and county of Denver for its Department of Aviation and assigned a F1+ short-term rating.

The action comes in connection with the conversion of the interest rate on the bonds from an auction rate, the provision of a standby bond purchase agreement from Dexia Credit Local and reoffering of the bonds. The conversion is scheduled for July 24.

The affected debt includes series F1-F3, at $52 million each, and the $52.025 million series F4.

The series 2007F1 and F2 bonds will be reoffered in a weekly interest rate mode. The series 2007F3 and F4 bonds will be reoffered in a daily interest rate mode.

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