...NEW YORK (Standard & Poor's) April 27, 2015--Standard & Poor's Ratings Services has assigned its '##-' rating to the City of Austin, Texas' series 2015A and 2015B electric utility system revenue bonds. At the same time, Standard & Poor's affirmed its '##-' rating on Austin's parity separate-lien electric utility system revenue refunding bonds. The outlook is stable. "The ratings reflect our assessment of the general creditworthiness of the electric system, known as Austin Energy, which includes its diversified generation resource mix of coal, gas, and efficient nuclear for base load," said Standard & Poor's credit analyst Peter Murphy. Bond proceeds will refinance maturing commercial paper notes and long-term bonds outstanding. Austin Energy operates a vertically integrated utility that serves 439,400 customers in and around Austin, with a fuel supply consisting of a mix of gas, coal, and nuclear, and a growing renewable energy portfolio. The system also has among the largest (in terms...
