DALLAS (Standard&Poor's) May 9, 2006--Standard&Poor's Ratings Services raised its standard long-term rating and underlying rating (SPUR) on Austin, Texas', doing business as Austin Energy, parity separate-lien electric utility system revenue bonds and prior subordinate-lien combined utility system revenue bonds one notch to 'A+' from 'A' and its standard long-term rating and SPUR on the system's prior first-lien combined electric-water-sewer utility system revenue bonds one notch to 'AA-' from 'A+' based on the electric utility's demonstrated trend of strong financial performance while reducing the system's relative indebtedness. The outlook remains stable. The rating service also assigned its 'A+' rating, and stable outlook, to Austin's $150 million series 2006 separate-lien electric utility system revenue refunding bonds. The bonds
