SAN FRANCISCO (Standard&Poor's CreditWire) Jan. 9, 2001--Standard&Poor's today assigned its single-'A'-minus rating to Austin Energy, Texas' $126.7 million electric utility system refunding bonds series 2001. The bonds are scheduled to sell on Jan. 18, 2001. The outlook is positive. The bonds are secured by electric system revenues only and enjoy a parity lien pledge with approximately $317 million of the utility's junior lien combined revenue bonds (secured by electric, water and wastewater system revenues). The positive outlook reflects the expectation that once Austin Energy completes its unbundling and debt restructuring process in anticipation of deregulation, the utility will be able to offer competitively priced generation to customers while maintaining its strong historical financial position. The combined
