...(Editor's Note: This press release, originally published Nov. 11, 2016, has been corrected so that fixed-charge coverage metrics include certain purchase power agreement capacity payments we consider to be debt-like obligations. A corrected version follows.) NEW YORK (S&P Global Ratings) Nov. 11, 2016--S&P Global Ratings raised its long-term rating and underlying rating (SPUR) on Austin, Texas' parity separate-lien electric utility system revenue debt to '##' from '##-'. At the same time, we assigned our '##' rating to the city's series 2017 electric utility system revenue refunding bonds. The outlook is stable. "The raised ratings reflect the electric system's very strong financial performance trend as evidenced by its ability to maintain stronger fixed-charge coverage and total available liquidity levels," said S&P Global Ratings credit analyst Scott Sagen. In particular, based on what we view to be a plausible financial forecast, we expect fixed-charge coverage to be around 1.6x through...
