Taxable Municipal Guide - Piper Jaffray

September 2010
Colorado
State Summary ‐ Colorado (CO)
Rank
Population (July 2009) 5,024,748 22
Land Area (Sq Miles) 103,718 8
Population Density (Sq Miles) 48.4 37
2008 Gross State Production ($ Millions) $248,603.00 20
Surplus (Deficit) ($ in Millions) ($1,600.00) 24
Deficit % of Gen Fund Budget 23.80% 23
Deficit % of Gross State Product 0.64% 40
Unemployment Rate 8.00% 20
Colorado Rating History
Aaa
Aa1
Aa2
Aa3
A1
A2
A3
Baa1
Baa2
Baa3
Moody's Recalibration
1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010
Moody's Rating
S&P Rating
Colorado
CO
2009‐2010* Issuance 2009‐2010* Secondary Trading
Tax Exempt Total (U.S.) $480,234 BAB Total $120,584 Secondary Trade Total $369,603
Tax Exempt CO $6,982 BAB CO $2,352 Secondary Trade CO $9,571
Tax Exempt CO (% of U.S.) 1.5% BAB CO (%) 2.0% Secondary Trade CO (%) 2.6%
Tax Exempt CO (Rank) 21 BAB CO (Rank) 14 Secondary Trade CO (Rank) 9
Taxable Total (U.S.) $160,730 QSCB Total $5,684 Secondary Trade Total 81469
Taxable CO $2,611 QSCB CO $111 Secondary Trade CO 1690
Taxable CO (% of U.S.) 1.6% QSCB CO (%) 2.0% Secondary Trade CO (%) 2.1%
Taxable CO (Rank) 16 QSCB CO (Rank) 20 Secondary Trade CO (Rank) 13
>250MM Total $135,969 RZEDB Total $2,476
>250MM CO $512 RZEDB CO $99 $ in U.S. Millions
>250MM CO (%) 0.4% RZEDB CO (%) 4.0% * 2010 Issuance/Trade Data Through 7/31/2010
>250MM CO (Rank) 18 RZEDB CO (Rank) 6
$ in Millions
$1,000
$800
$600
$400
$200
$0
2009‐2010 Par Amount Issued by Issue Size
250MM
Rating Distribution
Aaa
A NR
$ in Millions
$2,400
$1,600
$800
Number
300
250
200
150
100
50
0
2009‐2010 Number of Deals by Issue Size
250MM
Obligor
Utilities
Sector
Transportation
Public Facilities
Education
Aa
$0
Local
Revenue
State
GO
Healthcare
General
Purpose/Other
Largest Issues by Issue Type ($ in U.S. Millions)
Issuer Maturity Maturity Size Coupon Issue Spread
Moody's/
S&P/Fitch
Award Date CUSIP
Build America Bonds
DENVER COLO CITY & CNTY 8/1/2030 $261.89 5.650 248 Aaa/AAA/AAA 06/09/2010 249164LJ1
DENVER COLO CITY & CNTY SCH DI 12/1/2033 $250.0000 5.664 130 Aa2/AA‐/NA 12/08/2009 249174MQ3
COLORADO ST CTFS PARTN 9/15/2039 $122.91 6.450 205 Aa2/AA‐/NA 07/16/2009 196711LZ6
METRO WASTEWTR RECLAMATION DIS 4/1/2029 $94.20 5.775 130 Aa1/AAA/NA 08/11/2009 59164GCX8
COLORADO ST CTFS PARTN 9/15/2045 $88.73 6.650 225 Aa2/AA‐/NA 07/16/2009 196711MA0
DENVER COLO CITY & CNTY ARPT 11/15/2039 $65.29 6.414 220 A1/A+/A+ 10/21/2009 249182AQ9
UNIVERSITY COLO ENTERPRISE SYS 6/1/2036 $60.32 6.264 185 Aa2/AA‐/NA 12/10/2009 91417KND9
COLORADO ST BLDG EXCELLENT 3/15/2030 $52.79 6.242 167 Aa2/AA‐/NA 03/02/2010 19668QDD4
ARAPAHOE CNTY COLO WTR & WASTE 12/1/2039 $51.08 6.480 210 NA/AA‐/NA 12/09/2009 03871LAU7
WESTERN ST COLLEGE COLO BRD OF 5/15/2045 $48.02 7.000 290.3 Aa2/AA‐/NA 06/24/2010 959623AK5
Qualified School Construction Bonds
22
Recovery Zone Bonds
METROPOLITAN ST COLLEGE DENVER 12/1/2039 $24.83 6.240 325 Aa2/AA‐/NA 11/17/2009 592566AS2
METROPOLITAN ST COLLEGE DENVER 12/1/2029 $9.63 6.090 377 Aa2/AA‐/NA 11/17/2009 592566AQ6
METROPOLITAN ST COLLEGE DENVER 12/1/2040 $4.65 6.000 201 Aa2/NA/NA 06/09/2010 592566BE2
METROPOLITAN ST COLLEGE DENVER 12/1/2030 $3.37 5.950 198 Aa2/NA/NA 06/09/2010 592566BD4
METROPOLITAN ST COLLEGE DENVER 12/1/2022 $3.25 5.360 352 Aa2/AA‐/NA 11/17/2009 592566AM5
N/A
Piper Jaffray Taxable Municipal Guide