DALLAS (Standard&Poor's) July 17, 2008--Standard&Poor's Ratings Services revised its rating outlook on Austin, Texas' electric utility system bonds to positive from stable. At the same time, Standard&Poor's assigned its 'A+' standard long-term rating to Austin's $175 million series 2008A electric system revenue refunding bonds. The outlook revision is based on the electric system's, known as Austin Energy, sustained trend of strong financial performance. "Austin Energy's solid debt service coverage, liquidity, risk management, and the capacity to fund large projects, along with the strengths of the service area economy could support a higher rating", said Standard&Poor's credit analyst Theodore Chapman. The rating continues to reflect the general creditworthiness of the system which includes
